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Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co.,...
a, b and c please Prepare journal entries to record the following transactions involving the short-term...
a, b and c please
Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year. a. On March 22, purchased 1,000 shares of RPI Company stock at $10 per share. Duke's stock invest- ment results in it having an insignificant influence over RPI. b. On July 1, received a $1 per share cash dividend on the RPI stock purchased in part a. c. On October 8,...
3. 4. Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 On December 31,...
3.
4.
Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Luack Co held the following short-term available for sale securities Lack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities Complete this question by entering your answers in the tabs below. Fair Value Adjustment Ceneral Journal Computation of fair value adjustment Computation of Fair Value Adjustment Cost...
Help Save & Chec Prepare Riley Company's journal entries to record the following transactions for the...
Help Save & Chec Prepare Riley Company's journal entries to record the following transactions for the current year. April 18 Purchases 300 common shares of XLT Co. as a short-ters investeent at a cost of 142 per share. With this stock investment, Riley has an insignificant influence over XLT. May 30 Receives $1 per share from XLT in dividends. View transaction list Journal entry worksheet Purchases 300 common shares of XLT Co. as a short-term investment at a cost of...
Prepare Tiker Company's journal entries to record the following transactions for the current year, includ- ing...
Prepare Tiker Company's journal entries to record the following transactions for the current year, includ- ing any adjusting entry to record the fair value of the stock investments portfolio. This is the first and only time the company purchased such securities. May 9 Purchases 200 shares of Higo stock as a short-term investment at a cost of $30 per share. Tiker has insignificant influence over Higo. June 2 Sells 20 shares of its investment in Higo stock ($600 cost) at...
2. Prepare journal entries to record the following transactions involving both the short-term and long-term investments...
2. Prepare journal entries to record the following transactions involving both the short-term and long-term investments of HDX Inc., all of which occurred during calendar year 2019. a. On February 15, paid $100,000 cash to purchase Apex's 90-day short-term notes at par, which are dated February 15 and pay 5% interest (classified as short-term held-to- maturity). O B. On March 22, bought 1,000 shares of Fox Industries common stock (2% of Fox's outstanding stock) at $25 cash per share plus...
HelpS Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in...
HelpS Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in available for sale debt securities, all of which occurred during the current year. 3. On August 1, paid $80,000 cash to purchase Houtte's 10%, six-month debt securities ($80,000 principal), dated August 1 b. On October 30, received a check from Houtte for 90 days' interest on the debt securities in transaction a. (Use 360 days in a year Do not round your intermediate calculations.)...
Prepare journal entries to record the following transactions involving the short-term securities invest- ments of Blake...
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....
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...
Prepare Journal entries to record the following transactions involving short-term debt investments. On May 15, paid...
Prepare Journal entries to record the following transactions involving short-term debt investments. On May 15, paid $100 cash to purchase Muni’s 120 day short term debt securities ($100 stated value), that pay 6% interest. (categorized as held-to-maturity securities). On September 13, received a check from Muni in payment of the principal and 120 days’ interest on the debt securities purchased in transaction above. Gard Co. completes the following transactions to its short-term debt investments: May 8: Purchased FedEx notes as...
Exercise 15-10 Transactions and fair value adjustments for stock investments with insignificant influence LO P4 Carlsville...
Exercise 15-10 Transactions and fair value adjustments for stock investments with insignificant influence LO P4 Carlsville Company began operations in the current year and had no prior stock investments. The following transactions are from its short-term stock investments with insignificant influence. Prepare journal entries to record these transactions. On December 31, prepare the adjusting entry to record the fair value adjustment for the portfolio of stock investments. 2:36:07 ook July 22 Purchased 1,400 shares of Hunt Corp. at $26 per...
a, b and c please
Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co., all of which occurred during the current year. a. On March 22, purchased 1,000 shares of RPI Company stock at $10 per share. Duke's stock invest- ment results in it having an insignificant influence over RPI. b. On July 1, received a $1 per share cash dividend on the RPI stock purchased in part a. c. On October 8,...
3.
4.
Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Luack Co held the following short-term available for sale securities Lack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities Complete this question by entering your answers in the tabs below. Fair Value Adjustment Ceneral Journal Computation of fair value adjustment Computation of Fair Value Adjustment Cost...
Help Save & Chec Prepare Riley Company's journal entries to record the following transactions for the current year. April 18 Purchases 300 common shares of XLT Co. as a short-ters investeent at a cost of 142 per share. With this stock investment, Riley has an insignificant influence over XLT. May 30 Receives $1 per share from XLT in dividends. View transaction list Journal entry worksheet Purchases 300 common shares of XLT Co. as a short-term investment at a cost of...
Prepare Tiker Company's journal entries to record the following transactions for the current year, includ- ing any adjusting entry to record the fair value of the stock investments portfolio. This is the first and only time the company purchased such securities. May 9 Purchases 200 shares of Higo stock as a short-term investment at a cost of $30 per share. Tiker has insignificant influence over Higo. June 2 Sells 20 shares of its investment in Higo stock ($600 cost) at...
2. Prepare journal entries to record the following transactions involving both the short-term and long-term investments of HDX Inc., all of which occurred during calendar year 2019. a. On February 15, paid $100,000 cash to purchase Apex's 90-day short-term notes at par, which are dated February 15 and pay 5% interest (classified as short-term held-to- maturity). O B. On March 22, bought 1,000 shares of Fox Industries common stock (2% of Fox's outstanding stock) at $25 cash per share plus...
HelpS Prepare Krum Co.'s journal entries to record the following transactions involving its short-term investments in available for sale debt securities, all of which occurred during the current year. 3. On August 1, paid $80,000 cash to purchase Houtte's 10%, six-month debt securities ($80,000 principal), dated August 1 b. On October 30, received a check from Houtte for 90 days' interest on the debt securities in transaction a. (Use 360 days in a year Do not round your intermediate calculations.)...
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....
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...
Exercise 15-10 Transactions and fair value adjustments for stock investments with insignificant influence LO P4 Carlsville Company began operations in the current year and had no prior stock investments. The following transactions are from its short-term stock investments with insignificant influence. Prepare journal entries to record these transactions. On December 31, prepare the adjusting entry to record the fair value adjustment for the portfolio of stock investments. 2:36:07 ook July 22 Purchased 1,400 shares of Hunt Corp. at $26 per...
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