Sara Technologies invested $50,000 to buy $50,000 face value, 8%, five-year bonds on January 2, 2010. The
Question:
Sara Technologies invested $50,000 to buy $50,000 face value, 8%, five-year bonds on January 2, 2010. The bonds will mature on January 2, 2015.Carla paid brokerage fees $500. The bonds pay interest semiannually on January 2 and July 2 every year till maturity.
1)What is the journal entry to record the purchase of the investment -HTM?
Journal entry
2) What is the journal entry to be recorded on July 2, 2010?
Journal entry
B)Marielle Corporation pays $500,000 for 100,000 shares to acquire 40% of Laura Investments on January 5, 2019. Marielle Corporation sells 10,000 shares for $40,000 on January 6, 2021.
1)What is the journal entry to be recorded on January 6, 2021?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill