On April 30 of Year 1, the Aggie Corporation purchased available for sale securities These securities consisted of (a) Smith Corporation 10 , five year bonds with a face value of $12,000, which were purchased at par plus four months of accrued interest (b) 300 shares of Bike Company common stock, w...

On April 30 of Year 1, the Aggie Corporation purchased available-for-sale securities. These securities consisted of (a)

Question:

On April 30 of Year 1, the Aggie purchased available-for-sale securities. These securities consisted of
(a) Smith 10%, five-year bonds with a of $12,000, which were purchased at par plus four months of accrued interest
(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.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...