Ch 15 Homework 1 Saved 20 points ebook Pent References The following are the non-strategic investment transactions of Wiki Garden Tool Inc. Assume each bond acquired is purchased with the intention to actively trade. 2020 Feb. 1 Paid $123,000, plus $200 in transaction fees to purchase a $127,000, four-year, 4.5% bond payable of Capital Inc. dated Feb. 1. Interest is paid seniannually beginning August 1.1 Mar. 29 Bought 103,000 common shares of Regina Inc. for a total of $88,168, plus paid an extra $500 for transaction fees. May 7 Regina Inc.'s board of directors declared a total dividend of $528,000 regarding the total 3,500,000 shares issued and outstanding. The date of record is May 30, payable June 15. June 1 Paid $142,000 including $500 in transaction fees to purchase a five-year, 7.5%, $139,000 bond payable of Yates Corporation. Interest is paid annually each May 30. 15 Received a cheque regarding the dividends declared on May 7. Aug. 1 Received a cheque from Capital Inc. regarding semiannual interest.. Dec. 2021 1 Sold the Capital Inc. bond at 98. 17 Purchased 78,000 Tech Inc. common shares at $6.60 plus $400 in transaction fees. 1 Sold 78,000 of the Regina Inc. shares at $0.95 and incurred $250 in transaction fees. 31 Accrued interest on the Yates bond. Fair values of the equity securities on this date were Regina, $1.10; Tech Inc., $5.80. Assume that the carrying value of the Yates bond was equal to its fair value. May 30 Received a cheque from Yates Corporation regarding annual interest. Prepare entries to record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations and round your final answers to the nearest whole dollar.) 1 Journal entry worksheet 20 points 2 3 4 5 6 7 8 12 eBook Record the purchase of $127,000, 4-year, 4.5% bond to be held as an Investment; interest paid semiannually each May 30. Pont References Note: Enter debits before credits. Date General Journal Debit Credit Feb 01, 2020 Investment-Yates bond Cash Record entry Clear entry View general journal 20 1 Journal entry worksheet points 2 Saved 4 5 6 7 8 ..... 12 eBook Record the purchase of 103,000 common shares as an investment. Print References Note: Enter debits before credits Date General Journal Debit Credit Mar 29, 2020 Record entry Clear entry View general journal 1 Journal entry worksheet 20 points 1 2 3 4 5 6 7 8 12 Record the declaration of dividend. eBook Pont Note: Enter debits before credits. References Date General Journal Debit Credit May 07, 2020 Record entry Clear entry View general journal 20 1 Journal entry worksheet points 2 3 4 5 6 7 B 12 Record the Purchase of a 5-year, 7.5%, $139,000 bond; interest paid annually each May 30. ebook Prot Note: Enter debits before credits References Date General Journal Debit Credit Jun 01, 2020 View general journal Record entry Clear entry 1 Journal entry worksheet 20 points eBook References 3 4 5 6 7 8 12 Record the receipt of a cheque regarding May 7 dividends declaration. Note: Enter debits before credits. Date Jun 15, 2020 General Journal Debit Credit View general journal Record entry Clear entry 1 20 points Journal entry worksheet < 2 3 4 5 6 7 8 12 Record the collection of interest. eBook Pant Note: Enter debits before credits. References Date Aug 01, 2020 General Journal Debit Credit Record entry Clear entry View general journal 1 Journal entry worksheet < 20 points 2 3 4 5 6 7 12 Record the sale of investment. eBook Pont Note: Enter debits before credits. References Date Aug 01, 2020 General Journal Debit Credit View general journal Record entry Clear entry 1 Journal entry worksheet 20 points eBook Print References < 2 3 4 5 60 7 8 12 Record the purchase of 78,000 Tech Inc. common shares at $6.60. Note: Enter debits before credits. Date Aug 17, 2020 General Journal Debit Credit View general journal Record entry Clear entry 1 Journal entry worksheet < 20 1 4 5 6 7 8 points eBook Printi References Record the sale of investment. Note: Enter debits before credits. Date Dec 01, 2020 9 6. 22 12 General Journal Debit Credit View general journal Record entry Clear entry 1 Journal entry worksheet 20 points eBook Print References 5 6 7 8 9 Record the accrual of interest. Note: Enter debits before credits. Date Dec 31, 2020 10 10 12 Saved General Journal Debit Credit Record entry Clear entry View general journal 1 20 points eBook Print References Journal entry worksheet < 1 5 6 7 8 9 10 11 12 Record fair value adjustment at year end. Note: Enter debits before credits. Date Dec 31, 2020 General Journal Debit Credit Record entry Clear entry View general journal 1 Journal entry worksheet 20 points eBook Print References 1 5 6 7 8 9 10 Record fair value adjustment at year end. Note: Enter debits before credits. Date Dec 31, 2020 11 11 12 > General Journal Debit Credit View general journal Clear entry Record entry 1 Journal entry worksheet < 20 points eBook Print References 5 6 7 8 9 Record the collection of interest. Note: Enter debits before credits) Date: May 30, 2021 11 " 110 12 12 General Journal Debit Credit View general journal Record entry Clear entry 20 points ebook Pont Analysis Component: How would the financial statements have been affected differently if the dividends received on June 15 were from a significant influence investment or investment in associate as opposed to a non-strategic Investment? References Balance Sheet Income Statement