Transaction | General Journal | Debit | Credit |
a. | Shortterm investments—AFS (Houtte) | $80,000 | |
Cash | $80,000 | ||
b. | Cash($80,000 × 0.10 × 90/360) | $2,000 | |
Interest revenue | $2,000 |
HelpS Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in...
Exercise 15-5 Accounting for short-term avaliable-for-sale securities LO P3 Prepare journal entries to record the following transactions involving the short-term securities investments of Krum Co., all of which occurred during year 2017. a. On August 1, paid $70,000 cash to purchase Houtte's 8% debt securities ($70,000 principal), dated July 30, 2017, and maturing January 30, 2018 (categorized as available-for-sale securities). b. On October 30, received a check from Houtte for 90 days' interest on the debt securities purchased in transaction...
Prepare Natura Co.'s journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year a. On June 15, paid $234.000 cash to purchase Remed's 90-day short-term debt securities ($234.000 principal). dated June 15, that pay 9% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchase in transaction a, (Use 360 days in a...
2:06 PM 32% ex13.docx Prepare journal entries to record the following transactions involving the shont-term securities of Duke Co, all of which occurred during year 2013. a. On March 22, purchased 1,000 shares of RIP Company stock at $10 per share plus a $0 brokerage fee. These shares are categorized as trading securities b. On September 1, received a $1.00 per share cash dividend on the RIP Company stock parchased in c. On October 8, sold 500 shares of RIP...
pter 15 Assignment Saved Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2015 a. On June 15, paid $142,000 cash to purchase Remedy's 90-day short-term debt securities ($142,000 principal), dated June 15, that pay 9 % interest (categorized as held-to-maturity securities). b. On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transaction...
Prepare Natura Co.’s journal entries to record the following transactions involving its short-term securities investments in held-to-maturity debt securities, all of which occurred during the current year. On June 15, paid $256,000 cash to purchase Remed’s 90-day short-term debt securities ($256,000 principal), dated June 15, that pay 7% interest. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in the June 15 transaction.
1. 2. of such securities. At December 31, these securities had a fair value of $72,000 1. Prepare the December 27 entry for the purchase of debt investments 2. & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000) for $4,000 cash. Complete this question by entering your answers in the tabs below. Reg 2 and 3 Prepare...
Prepare journal entries to record the following transactions involving the short-term securities invest- ments of Blake Co., all of which occurred during year 2008. a. On February 15, paid $120,000 cash to purchase RTF's 90-day short-term debt securities ($120,000 principal), dated February 15, that pay 8% interest (categorized as held-to-maturity securities). b. On March 22, purchased 700 shares of XIF Company stock at $27.50 per share plus a $150 broker- age fee. These shares are categorized as trading securities. c....
Exercise 15-4 Accounting for short-term held-to-maturity securities LO P2 Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2017. On June 15, paid $278,000 cash to purchase Remedy’s 90-day short-term debt securities ($278,000 principal), dated June 15, that pay 5% interest (categorized as held-to-maturity securities). On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased...
Help me, please on 15-2 Stacks Co purchas is first and only purchas a purchases debt investments as trading securities at a cost of $66.000 on December 27. This is nd only purchase of such securities. At December 31, these securities had a fair value of $72,000. he December 27 entry for the purchase of debt investments. me the December 31 year-end fair value adjusting entry for the trading securities' portfolio. hare the January 3 entry when Brooks sells a...
Help me, please on 15-3 Stacks Co purchas is first and only purchas a purchases debt investments as trading securities at a cost of $66.000 on December 27. This is nd only purchase of such securities. At December 31, these securities had a fair value of $72,000. he December 27 entry for the purchase of debt investments. me the December 31 year-end fair value adjusting entry for the trading securities' portfolio. hare the January 3 entry when Brooks sells a...