Prepare journal entries to record the following transactions involving the short-term securities investments of Bolton Co., all of which occurred during year 2009.
a. On February 15, paid $170,000 cash to purchase ACC’s 90-day short-term debt securities ($170,000 principal), dated February 15, that pay 8% interest (categorized as held-to-maturity securities).
b. On March 22, purchased 850 shares of Ross Company stock at $21 per share plus a $100 brokerage fee. These shares are categorized as trading securities.
c. On May 16, received a check from ACC in payment of the principal and 90 days’ interest on the debt securities purchased in transaction a.
d. On August 1, paid $70,000 cash to purchase Nita Co.’s 11% debt securities ($70,000 principal), dated July 30, 2009, and maturing January 30, 2010 (categorized as available-for-sale securities).
e. On September 1, received a $1.10 per share cash dividend on the Ross Company stock purchased in transaction b.
f. On October 8, sold 425 shares of Ross Co. stock for $31 per share, less a $150 brokerage fee.
g. On October 30, received a check from Nita Co. for 90 days’ interest on the debt securities purchased in transaction d.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.