QS 15-9 Debt securities transactions L.O. P2
On February 1, 2011, Charo Mendez purchased 6% bonds issued by CR Utilities at a cost of $30,000, which is their par value. The bonds pay interest semiannually on July 31 and January 31. For 2011, prepare entries to record Mendez’s July 31 receipt of interest and its December 31 year-end interest accrual.
(Do not round your intermediate calculations. Omit the "$" sign in your response.)
Date
General Journal
Debit
Credi
July 31
Problem 15-5A Part 2
Part 2
Assume that although Pillar owns 25% of Kildaire’s outstanding stock, circumstances indicate that
it does not have a significant influence over the investee
and that it is classified as an available-for-sale security investment.
Required:
Prepare journal entries to record the preceding transactions and events for Pillar. Also prepare an entry dated January 2, 2013, to remove any balance related to the fair value adjustment.
(Omit the "$" sign in your response.)
Date
General Journal
Debit
Credit
Jan. 5, 2011
Problem 15-2A Part 1
Required:
1.
Prepare journal entries to record the preceding transactions and events.
(Do not round your intermediate calculations. Use a 360-day year for interest calculation. Omit the "$" sign in your response.)
Date
General Journal
Debit
Credit
Apr. 16, 2011
Problem 15-2A Part 2
2.
Prepare a table to compare the year-end cost and fair values of Perry’s short-term investments in available-for-sale securities. The year-end fair values per share are: Gem Co., $29.25; PepsiCo, $44.25; and Xerox, $14.00.
(Do not round your intermediate calculations. Negative amount should be indicated by a minus sign. Omit the "$" sign in your response.)
9.
value:
1.00 points
Problem 15-2A Part 3
3.
Prepare an adjusting entry, if necessary, to record the year-end fair value adjustment for the portfolio of short-term investments in available-for-sale securities.
(Do not round your intermediate calculations. Omit the "$" sign in your response.)
Date
General Journal
Debit
Credit
Dec. 31, 2011
[removed]
Cost
Fair Value
Unrealized
Gain (Loss)
Gem Co.
$ [removed]
$ [removed]
Pepsi Co.
[removed]
[removed]
Xerox
[removed]
[removed]
Total
$ [removed]
$ [removed]
$ [removed]
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BOS3001 Unit 5 assessment Question 4
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QS 15-9 Debt securities transactions L.O. P2On February 1, 2011,.docx
1. QS 15-9 Debt securities transactions L.O. P2
On February 1, 2011, Charo Mendez purchased 6% bonds issued
by CR Utilities at a cost of $30,000, which is their par value.
The bonds pay interest semiannually on July 31 and January 31.
For 2011, prepare entries to record Mendez’s July 31 receipt of
interest and its December 31 year-end interest accrual.
(Do not round your intermediate calculations. Omit the "$" sign
in your response.)
Date
General Journal
Debit
Credi
July 31
Problem 15-5A Part 2
Part 2
Assume that although Pillar owns 25% of Kildaire’s outstanding
stock, circumstances indicate that
it does not have a significant influence over the investee
and that it is classified as an available-for-sale security
investment.
Required:
Prepare journal entries to record the preceding transactions and
events for Pillar. Also prepare an entry dated January 2, 2013,
2. to remove any balance related to the fair value adjustment.
(Omit the "$" sign in your response.)
Date
General Journal
Debit
Credit
Jan. 5, 2011
Problem 15-2A Part 1
Required:
1.
Prepare journal entries to record the preceding transactions and
events.
(Do not round your intermediate calculations. Use a 360-day
year for interest calculation. Omit the "$" sign in your
response.)
Date
General Journal
Debit
Credit
Apr. 16, 2011
3. Problem 15-2A Part 2
2.
Prepare a table to compare the year-end cost and fair values of
Perry’s short-term investments in available-for-sale securities.
The year-end fair values per share are: Gem Co., $29.25;
PepsiCo, $44.25; and Xerox, $14.00.
(Do not round your intermediate calculations. Negative amount
should be indicated by a minus sign. Omit the "$" sign in your
response.)
9.
value:
1.00 points
Problem 15-2A Part 3
3.
Prepare an adjusting entry, if necessary, to record the year-end
fair value adjustment for the portfolio of short-term investments
in available-for-sale securities.
(Do not round your intermediate calculations. Omit the "$" sign
in your response.)
Date
General Journal
Debit
Credit
Dec. 31, 2011
[removed]
4. Cost
Fair Value
Unrealized
Gain (Loss)
Gem Co.
$ [removed]
$ [removed]
Pepsi Co.
[removed]
[removed]
Xerox
[removed]
[removed]
Total
$ [removed]
$ [removed]
$ [removed]
8 years ago
15.12.2014
13
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BOS3001 Unit 5 assessment Question 4
6. Sultan Services has 1.2 million shares outstanding. It expects
earnings at the end of the year of $5.6 million. Sultan...
UML Conceptual View and Process View
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Assignment consist of 3 questions. Be specific with answers,
cite and reference all sources, and answers must be 200 words
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