Collaborative Learning -KKI Chocolato Co is a supplier chocolate for Orangtua Corporation. It has had two...
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Collaborative Learning -KKI Chocolato Co is a supplier chocolate for Orangtua Corporation. It has had two exceptionally good years and has elected to invest its excess funds in bonds and equity. The following selected transactions relate to bonds and equity acquired as an investment by Chocolato, whose fiscal year ends on December 31. 2020 01-Feb 01-Apr Purchased 5,000 shares of the 100,000 shares no par common shares of Pineapple Co. for $52,500. The investment was classified as Trading 30-Apr Purchased 800, @ $1,000 Ginger Co. 10% bonds at face value plus accrued interest. Interest paid every 1st January. The investment was classified as Trading. Purchased 1.000 shares of the 100,000 shares outstanding $10 par ordinary shares of Mint Corporation for $6,200. The investment was classified as Trading 01-Nov Received a cash dividend of $2 per share on the Mint Corporation stock 20-Dec Pineapple Co announced to pay dividend for shareholder $1 per share, and will paid Jan 10, 2021. Chocolato doesn't intend to sale the shares until dividend paid. Accrued Interest Revenue for Ginger bonds 31-Dec 31-Dec Market Price of Ginger at 102, Mint: $10/share, and Pineapple Co $15/share 31-Dec Net income reported by Mint: $350.000, by Pineapple $1.000.000 and by Ginger $1,800,000.. 2021 01-Jan Received interest revenue from Ginger 01-Mar Sold $200,000 of the bonds at 101.plus accrued interest 01-Nov Sold 500 shares of the Pineapple Corporation shares at $15/share 31-Dec Accrued Interest Revenue for bonds 31-Dec Market Price of Ginger at 99, Mint: $11/share, and Pineapple Co $14/share Net income reported by Mint: $450.000, by Pineapple $1.250.000 and by Ginger $1.950.000. Instruction: a. b. Journalize the entries to record transaction above Prepare partial financial position for investment account and Unrealized Gain/Loss account for Dec 31, 2020 dan 2021 Collaborative Learning -KKI Chocolato Co is a supplier chocolate for Orangtua Corporation. It has had two exceptionally good years and has elected to invest its excess funds in bonds and equity. The following selected transactions relate to bonds and equity acquired as an investment by Chocolato, whose fiscal year ends on December 31. 2020 01-Feb 01-Apr Purchased 5,000 shares of the 100,000 shares no par common shares of Pineapple Co. for $52,500. The investment was classified as Trading 30-Apr Purchased 800, @ $1,000 Ginger Co. 10% bonds at face value plus accrued interest. Interest paid every 1st January. The investment was classified as Trading. Purchased 1.000 shares of the 100,000 shares outstanding $10 par ordinary shares of Mint Corporation for $6,200. The investment was classified as Trading 01-Nov Received a cash dividend of $2 per share on the Mint Corporation stock 20-Dec Pineapple Co announced to pay dividend for shareholder $1 per share, and will paid Jan 10, 2021. Chocolato doesn't intend to sale the shares until dividend paid. Accrued Interest Revenue for Ginger bonds 31-Dec 31-Dec Market Price of Ginger at 102, Mint: $10/share, and Pineapple Co $15/share 31-Dec Net income reported by Mint: $350.000, by Pineapple $1.000.000 and by Ginger $1,800,000.. 2021 01-Jan Received interest revenue from Ginger 01-Mar Sold $200,000 of the bonds at 101.plus accrued interest 01-Nov Sold 500 shares of the Pineapple Corporation shares at $15/share 31-Dec Accrued Interest Revenue for bonds 31-Dec Market Price of Ginger at 99, Mint: $11/share, and Pineapple Co $14/share Net income reported by Mint: $450.000, by Pineapple $1.250.000 and by Ginger $1.950.000. Instruction: a. b. Journalize the entries to record transaction above Prepare partial financial position for investment account and Unrealized Gain/Loss account for Dec 31, 2020 dan 2021
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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