Question: Ownbey Corporation purchased debt investments for 52 000 on January 1
Ownbey Corporation purchased debt investments for $52,000 on January 1, 2014. On July 1, 2014, Ownbey received cash interest of $2,340. Journalize the purchase and the receipt of interest. Assume that no interest has been accrued.
Answer to relevant QuestionsOn August 1, Shaw Company buys 1,000 shares of Estrada common stock for $37,000 cash. On December 1, Shaw sells the stock investments for $40,000 in cash. Journalize the purchase and sale of the common stock.Presented below are two independent situations:1. Edelman Inc. acquired 10% of the 500,000 shares of common stock of Schuberger Corporation at a total cost of $11 per share on June 17, 2014. On September 3, Schuberger ...On February 1, Rinehart Company purchased 500 shares (2% ownership) of Givens Company common stock for $32 per share. On March 20, Rinehart Company sold 100 shares of Givens stock for $2,900. Rinehart received a dividend of ...On December 31, 2014, Turnball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee.On December 31, 2014, the total fair value of ...Amazon.com, Inc.’s financial statements are presented in Appendix D. Financial statements of Wal-Mart Stores, Inc. are presented in Appendix E. Instructions for accessing and using the complete annual reports of Amazon and ...
Post your question