On April 30, 2016, Aggie Corporation purchased available-for-sale securities. These securities consisted of (a) Smith Corporation 10%, 5-ycar bonds with a face value of $12,000 which were purchased at par plus four months of accrued interest and (b) 300 shares of Bike Company common stock which were purchased at $20 per share. Prepare the April 30 journal entry to record the purchase of these available-for-sale securities.
Answer to relevant QuestionsRefer to the information in RE13-7. Assume that on June 30, Aggie received interest on the Smith Corporation bonds, as well as a $1 dividend per share interest on the Bike Company stock. Prepare the June 30 journal entries ...On January 1,2016, Easton Corporation acquired 30% of the outstanding common shares of Feeley Corporation for $140,000, purchased 25% of the outstanding common shares of Holmes Company for $82,500, and obtained significant ...What is a fund? Distinguish between a fund and an appropriation of retained earnings. Nolan Corporation has outstanding convertible bonds with a face value of $ 15,000 and a current book value of $17,500. Each $1,000 bond is convertible into 25 shares of common stock (par value $5 per share). All the bonds ...On January 1, 2016, Johnson Corporation issued a 2 year note due December 31, 2017, with a face value of $10,000, receiving $7,694.68 in exchange. Required: Prepare the journal entries to account for the note: 1. On the date ...
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