Collaborative Learning -KKI Chocolato Co is a supplier chocolate for Orangtua Corporation. It has had two exceptionally good years and has elected to invest its excess funds in bonds and equity. The following selected transactions relate to bonds and equity acquired as an investment by Chocolato, whose fiscal year ends on December 31. 2020 01-Feb Purchased 5,000 shares of the 100,000 shares no par common shares of Pineapple Co. for $52,500. The investment was classified as Trading Purchased 800, @ $1,000 Ginger Co. 10% bonds at face value plus accrued interest . Interest paid every 1st January. The investment was classified as Trading. Purchased 1.000 shares of the 100,000 shares outstanding $10 par ordinary shares of Mint Corporation for $6,200. The investment was classified as Trading 01-Apr 30-Apr | 01-Nov Received a cash dividend of $2 per share on the Mint Corporation stock 20-Dec Pineapple Co announced to pay dividend for shareholder $1 per share, and will paid Jan 10, 2021. Chocolato doesn't intend to sale the shares until dividend paid. Accrued Interest Revenue for Ginger bonds Market Price of Ginger at 102, Mint: $10/share, and Pineapple Co $15/share Net income reported by Mint: $350.000, by Pineapple$1.000.000 and by Ginger $1,800,000.. 31-Dec 31-Dec 31-Dec 2021 01-Jan Received interest revenue from Ginger 01-Mar Sold $200,000 of the bonds at 101.plus accrued interest 01-Nov Sold 500 shares of the Pineapple Corporation shares at $15/share 31-Dec Accrued Interest Revenue for bonds 31-Dec Market Price of Ginger at 99, Mint: $11/share, and Pineapple Co $14/share Net income reported by Mint: $450.000, by Pineapple $1.250.000 and by Ginger $1.950.000. Instruction: а. Journalize the entries to record transaction above b. Prepare partial financial position for investment account and Unrealized Gain/Loss account for Dec 31, 2020 dan 2021
Collaborative Learning -KKI Chocolato Co is a supplier chocolate for Orangtua Corporation. It has had two exceptionally good years and has elected to invest its excess funds in bonds and equity. The following selected transactions relate to bonds and equity acquired as an investment by Chocolato, whose fiscal year ends on December 31. 2020 01-Feb Purchased 5,000 shares of the 100,000 shares no par common shares of Pineapple Co. for $52,500. The investment was classified as Trading Purchased 800, @ $1,000 Ginger Co. 10% bonds at face value plus accrued interest . Interest paid every 1st January. The investment was classified as Trading. Purchased 1.000 shares of the 100,000 shares outstanding $10 par ordinary shares of Mint Corporation for $6,200. The investment was classified as Trading 01-Apr 30-Apr | 01-Nov Received a cash dividend of $2 per share on the Mint Corporation stock 20-Dec Pineapple Co announced to pay dividend for shareholder $1 per share, and will paid Jan 10, 2021. Chocolato doesn't intend to sale the shares until dividend paid. Accrued Interest Revenue for Ginger bonds Market Price of Ginger at 102, Mint: $10/share, and Pineapple Co $15/share Net income reported by Mint: $350.000, by Pineapple$1.000.000 and by Ginger $1,800,000.. 31-Dec 31-Dec 31-Dec 2021 01-Jan Received interest revenue from Ginger 01-Mar Sold $200,000 of the bonds at 101.plus accrued interest 01-Nov Sold 500 shares of the Pineapple Corporation shares at $15/share 31-Dec Accrued Interest Revenue for bonds 31-Dec Market Price of Ginger at 99, Mint: $11/share, and Pineapple Co $14/share Net income reported by Mint: $450.000, by Pineapple $1.250.000 and by Ginger $1.950.000. Instruction: а. Journalize the entries to record transaction above b. Prepare partial financial position for investment account and Unrealized Gain/Loss account for Dec 31, 2020 dan 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Collaborative Learning -KKI
Chocolato Co is a supplier chocolate for Orangtua Corporation. It has had two exceptionally good years
and has elected to invest its excess funds in bonds and equity. The following selected transactions relate
to bonds and equity acquired as an investment by Chocolato, whose fiscal year ends on December 31.
2020
01-Feb
Purchased 5,000 shares of the 100,000 shares no par common shares of
Pineapple Co. for $52,500. The investment was classified as Trading
01-Apr Purchased 800, @ $1,000 Ginger Co. 10% bonds at face value plus accrued
interest . Interest paid every 1st January. The investment was classified as
Trading.
30-Apr Purchased 1.000 shares of the 100,000 shares outstanding $10 par ordinary
shares of Mint Corporation for $6,200. The investment was classified as
Trading
01-Nov Received a cash dividend of $2 per share on the Mint Corporation stock
20-Dec Pineapple Co announced to pay dividend for shareholder $1 per share, and will
paid Jan 10, 2021. Chocolato doesn't intend to sale the shares until dividend
paid.
Accrued Interest Revenue for Ginger bonds
Market Price of Ginger at 102, Mint: $10/share, and Pineapple Co $15/share
Net income reported by Mint: $350.000, by Pineapple$1.000.000 and by
Ginger $1,800,000..
31-Dec
31-Dec
31-Dec
2021
01-Jan Received interest revenue from Ginger
01-Mar Sold $200,000 of the bonds at 101.plus accrued interest
01-Nov Sold 500 shares of the Pineapple Corporation shares at $15/share
31-Dec Accrued Interest Revenue for bonds
31-Dec Market Price of Ginger at 99, Mint: $11/share, and Pineapple Co $14/share
|Net income reported by Mint: $450.000, by Pineapple $1.250.000 and by
Ginger $1.950.000.
Instruction:
а.
Journalize the entries to record transaction above
b.
Prepare partial financial position for investment account and Unrealized Gain/Loss
account for Dec 31, 2020 dan 2021
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