Prepare Natura Co.’s journal entries to record the following transactions involving its short-term securities investments in...
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.
Homework Answers
| NO | GENERAL JOURNAL | DEBIT | CREDIT |
| A | Short term investments - Remed | 256,000 | |
| Cash | 256,000 | ||
| (to record cash paid to purchase short term investments) | |||
| B | Cash | 260,480 | |
| Short term investments - Remed | 256,000 | ||
| Interest revenue (256,000*7%*90/360) | 4,480 |
(to record cash received for principal and interest)
Add Answer to:
Prepare Natura Co.’s journal entries to record the following
transactions involving its short-term securities investments in...
Prepare Natura Co.'s journal entries to record the following transactions involving its short-term investments in held-to-maturity...
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...
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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...
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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...
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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...
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...
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