Glaser Company had the following transactions pertaining to debt securities | ||||
held as a short-term investment: | ||||
1-Jan | Purchased 50, 8%, $1,000 Adler Company bonds for $50,000 cash | |||
plus brokerage fees of $800. Interest is payable semi-annually on | ||||
July 1 and January 1. | ||||
1-Jul | Received semi-annual interest on Adler Company bonds | |||
31-Dec | Sold 30 Adler Company bonds for $32,000 less $500 brokerage fee. | |||
Prepare the journal entries for Glaser Co. | ||||
Stone Company had the following transactions pertaining to short-term | ||||
investments in equity securities: | ||||
1-Jan | Purchased 1,500 shares of Quayle Company stock for $9,150 cash plus brokerage | |||
fee of $300. | ||||
1-Jun | Received cash dividends of $.50 per share on Quayle Company stock. | |||
15-Sep | Sold 400 shares of Quayle Company stock for $2,500 less brokerage fee of $100. | |||
1-Dec | Received cash dividends of $.50 per share on Quayle Company stock. |
Glaser Company had the following transactions pertaining to debt securities held as a short-term investment: 1-Jan...
(12 points - 3 each) Hungh Company had the following transactions pertaining to short-term investments in equity securities. Jan. 1 June 1 Sept. 15 Purchased 1,500 shares of Antuni Company stock for $9,500 cash. Received cash dividends of $.40 per share on Antuni Company stock. Sold 375 shares of Antuni Company stock for $2,300 less brokerage fees of $100 Received cash dividends of $.80 per share on Antuni Company stock. Dec. 1 Instructions Prepare a journal entry for each of...
Whitmore Corporation had the following transactions pertaining to debt and stock investment transactions during calendar year 2020. Purchased 50, 10%, $1,000 Lawton Company bonds for $50,000. The bonds pay interest semi-annually on Jan 1 and July 1. Jan 1 Purchased 700 shares of Shaw Company stock for $9,415. Mar 1 Received semi-annual interest on the Lawton Company bonds. July 1 Sold 20 Lawton Company bonds for $19,000. July 1 Received cash dividends of $0.50 per share on the Shaw Company...
Required information The following information applies to the questions displayed below Rose Company had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017 Apr. 16 Purchased 6,000 shares of Gem Co. stock at $23.00 per share plus a $320 brokerage fee May 1 Paid $150,000 to buy 3-month U. S. Treasury bills (debt securities) : $150,000 principal amount, 4% interest, securities mature on July 31. July 7 Purchased 3,000...
1. 2. 1. Campus Corporation had the following investment transactions: Jan. 1 Feb. 15 Mar. 31 June 1 Purchased Apex bonds for $10,000 plus a $500 brokerage fee. This purchase is considered a short-term investment in available-for-sale (AFS) debt securities by Campus Corporation. Purchased 1,000 shares of Eden, Inc. for $35,000 cash. This purchase is considered a long- term stock investment with insignificant influence by Campus Corporation. Received cash dividend of $0.30 per share from Eden, Inc. Purchased 5,000 shares...
Complete the following descriptions by selecting the appropriate option. 1. Debt securities reflect a relationship such as investments in notes, bonds, and certificates of deposit. 2. Equity securities reflect an) relationship such as shares of stock issued by companies Short-term investments are securities that (1) management intends to convert to cash within whichever is longer, and (2) are readily convertible to Long-term investments in securities are defined as those securities that are convertible to cash or are to be converted...
4 Required Informatlion Problem 15-2A Recording,.adjusting, and reporting short-term available-for-sale securities LO P3 The following information applies to the questions displayed below Part 1 of 3 Rose Company had no short term investments prior to year 2017 It had the following transections involving short-term points Apr. 16 Purchased 4,eee shares of Gen Co. stock at $24.25 per share plus a $188 brokerage fee Nay apaid s1ee,en to buy 3-sonth u.s. Treasury bills (debt securities): s1e9,eee principle anount, et interest, Duly...
Journalize stock investment transactions. Jelsie Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 1,200 shares of Sun common stock (2%) for $9,000 cash. July 1 Received cash dividends of $3.2 per share on Sun common stock. Sept. 1 Sold 400 shares of Sun common stock for $3,200. Dec. 1 Received cash dividends of $2.6 per share on Sun common stock. Instructions (a) Journalize the transactions.
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....
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...
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...