On February 1, 2015, Garzon purchased 6% bonds issued by PBS Utilities at a cost of $40,000, which is their par value. The bonds pay interest semiannually on July 31 and January 31. For 2015, prepare entries to record Garzon’s July 31 receipt of interest and its December 31 year-end interest accrual.
Answer to relevant QuestionsOn May 20, 2015, Montero Co. paid $1,000,000 to acquire 25,000 common shares (10%) of ORD Corp. as a long-term investment. On August 5, 2016, Montero sold one-half of these shares for $625,000. What valuation method should ...On December 31, 2015, Lujack Co. held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31, 2015, year-end adjusting entry to ...Selk Steel Co., which began operations on January 4, 2015, had the following subsequent transactions and events in its long-term investments. 2015 Jan. 5 Selk purchased 60,000 shares (20% of total) of Kildaire’s common ...Key figures for Apple and Google follow. Required 1. Compute return on total assets for Apple and Google for the two most recent years. 2. Separate the return on total assets computed in part 1 into its components for both ...Refer to Samsung’s 2013 statement of cash flows in Appendix A. List its cash flows from operating activities, investing activities, and financing activities.
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