Vroom owned 150 common shares of Macintosh Inc. at the beginning of fiscal 2020. On February 2, 2020 Macintosh declared a $1 per share cash dividend for common shareholders. The date of record for the dividend was February 8, 2020 and the date of distribution was february 15, 2020. On November 18, 2020, as global stock prices plummeted, vroom sold 40 per cent of its macintosh stock. Macintosh stock were trading at 120 per share and vroom incurred a broker fee of $175. The proceeds would be remitted to Vroom on December 5, 2020. On November 25, 2020, Macintosh declared a four for one stock split when its shares were trading at 130. At vrooms 2020 fiscal year end, Macintosh's common shares were trading at 28.75 per share. 

On June 15, 2020, Vroom purchased 100, 10 year Zoogle bonds for 112,210 which included accrued interest and a 250 brokerage fee. On the date of purchase, the market interest rate was five per cent. The bonds were first issued on January 1, 2015 when the market interest rate was three per cent. The bond paid an annual coupon rate of seven per sent on July 1 and January 1 each year. By fiscal year-end, the bonds were trading at 112." 

As Bezos use a super T to record all necessary transactions and adjusting entries for Vroom's fiscal year end November 30,2020. Closing entries not required.

Answer rating: 100% (QA)

Here are the adjusting entries for Vrooms fiscal year end November 30 2020 Macintosh Inc February 2 ... View the full answer