Connect Access Card for Financial Accounting: Information and Decisions
8th Edition
ISBN: 9781259662966
Author: John J Wild
Publisher: McGraw-Hill Education
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Assume that H Company purchases $18,000 of U.S. Treasury bonds at their face amount on September 14, 20Y9, plus accrued interest for 45 days. The bonds have an interest rate of 6% payable on July 31 and January 31.What is the amount of accrued interest on September 14, the purchase date?
Group of answer choices
$18,000
$1,080
$540
$135
Q. 19
Medow corporation issued 3000 7%, 5 year, P1,000 bonds on January 1 2022 at face value. Interest is
paid each January 01.
A. Prepare journal entry to record sale of the bonds on January 01,2022
B. Prepare the adjusting entry on December 31, 2022 to record interest expenses.
Journal entries for available-for-sale securities
M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations:
Issuing Company
Cost
Arden Enterprises Inc.
$150,000
French Broad Industries Inc.
66,000
Pisgah Construction Inc.
104,000
Total
$320,000
The fair value of the various available-for-sale securities on December 31, 20Y5, was as follows:
Fair Value
Issuing Company
Dec. 31, 20Y5
Arden Enterprises Inc.
$170,000
French Broad Industries Inc.
71,500
Pisgah Construction Inc.
96,000
$337,500
a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31, 20Y5. If no entry is required, select "no entry required" and leave the amount box blank. If an amount box does not require an entry, leave it blank.
20Y5 Dec. 31
fill in the blank 759813fbc02affb_2
fill in the blank 759813fbc02affb_3
fill in the blank 759813fbc02affb_5
fill in the blank…
Chapter C Solutions
Connect Access Card for Financial Accounting: Information and Decisions
Ch. C - Under what two conditions should investments be...Ch. C - Prob. 2DQCh. C - Prob. 3DQCh. C - Identify the three classes of debt investments and...Ch. C - Prob. 5DQCh. C - Prob. 6DQCh. C - Prob. 7DQCh. C - Prob. 8DQCh. C - Prob. 9DQCh. C - Prob. 10DQ
Ch. C - Prob. 11DQCh. C - Prob. 12DQCh. C - Prob. 13DQCh. C - Prob. 14DQCh. C - Prob. 15DQCh. C - Prob. 16DQCh. C - Prob. 17DQCh. C - Which of the following statements a through g are...Ch. C - Prob. 2QSCh. C - Prob. 3QSCh. C - Prob. 4QSCh. C - Prob. 5QSCh. C - Prob. 6QSCh. C - Prob. 7QSCh. C - Prob. 8QSCh. C - Prob. 9QSCh. C - Prob. 10QSCh. C - Prob. 11QSCh. C - Prob. 12QSCh. C - Prob. 13QSCh. C - Prob. 14QSCh. C - Prob. 15QSCh. C - Prob. 16QSCh. C - Prob. 17QSCh. C - Prob. 1ECh. C - Prob. 2ECh. C - Prob. 3ECh. C - Prob. 4ECh. C - Prob. 5ECh. C - Prob. 6ECh. C - Prob. 7ECh. C - Prob. 8ECh. C - Prob. 9ECh. C - Prob. 10ECh. C - Prob. 12ECh. C - Prob. 13ECh. C - Prob. 14ECh. C - Prob. 15ECh. C - Prob. 16ECh. C - Prob. 2PSACh. C - Prob. 6PSACh. C - Prob. 2PSBCh. C - Prob. 3PSBCh. C - Prob. 5PSBCh. C - Prob. 6PSBCh. C - Prob. CSPCh. C - Prob. 4BTNCh. C - Prob. 9BTN
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