Entries for Investment in Bonds, Interest, and Sale of Bonds Gonzalez Company acquired $163,200 of Walker...
Entries for Investment in Bonds, Interest, and Sale of Bonds
Gonzalez Company acquired $163,200 of Walker Co., 7% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $43,800 of the bonds for 96.
Journalize entries to record the following in Year 1:
For a compound transaction, if an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
| May 1 | |||
b. The semiannual interest received on November 1.
| Nov. 1 | |||
c. The sale of the bonds on November 1.
| Nov. 1 | |||
d. The accrual of $1,393 interest on December 31.
| Dec. 31 | |||
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Entries for Investment in Bonds, Interest, and Sale of Bonds
Gonzalez Company acquired $163,200 of Walker...
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Gonzalez Company acquired $147,600 of Walker Co., 5% bonds on
May 1 at their face amount. Interest is paid semiannually on May 1
and November 1. On November 1, Gonzalez Company sold $46,800 of the
bonds for 96.
Journalize entries to record the following in Year 1:
For a compound transaction, if an amount box does not require an
entry, leave it blank.
a. The initial acquisition of the bonds on May 1. May 1 b. The semiannual interest received...
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Entries for Investments in Bonds, Interest, and Sale of
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Kalyagin Investments acquired $228,400 Jerris Corp., 9% bonds at
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October 1 and April 1. On April 1, 20Y3, Kalyagin sold $120,000 of
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Journalize the entries to record the following:
Do not round interim calculations. Round final answers to
nearest dollar. For a compound transaction, if an amount box does
not require an entry, leave...
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Gonzalez Company acquired $147,600 of Walker Co., 5% bonds on
May 1 at their face amount. Interest is paid semiannually on May 1
and November 1. On November 1, Gonzalez Company sold $46,800 of the
bonds for 96.
Journalize entries to record the following in Year 1:
For a compound transaction, if an amount box does not require an
entry, leave it blank.
a. The initial acquisition of the bonds on May 1. May 1 b. The semiannual interest received...
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Entries for Investments in Bonds, Interest, and Sale of
Bonds
Kalyagin Investments acquired $228,400 Jerris Corp., 9% bonds at
their face amount on October 1, 20Y2. The bonds pay interest on
October 1 and April 1. On April 1, 20Y3, Kalyagin sold $120,000 of
Jerris bonds at 102.
Journalize the entries to record the following:
Do not round interim calculations. Round final answers to
nearest dollar. For a compound transaction, if an amount box does
not require an entry, leave...
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