Journalize the following investment transactions for Bonneau Inc. Jul1 Purchased for cash 8,000 shares of Wang,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Journalize the following investment transactions for Bonneau Inc. Jul1 Purchased for cash 8,000 shares of Wang, Inc stock for $20 each plus a $800 brokerage fee. Aug 3 Received dividends of .70 per share from Wang Aug 15 Purchased 50 $1,000 coporate bonds from Smith Inc at par. Sept 1 Received interest payment of $2,500 from Smith Oct 31 Sold 4,000 sh of Wang stock for $40 each Dec 31 Market price of the Wang stock is $50 each Journalize the following investment transactions for Bonneau Inc. Jul1 Purchased for cash 8,000 shares of Wang, Inc stock for $20 each plus a $800 brokerage fee. Aug 3 Received dividends of .70 per share from Wang Aug 15 Purchased 50 $1,000 coporate bonds from Smith Inc at par. Sept 1 Received interest payment of $2,500 from Smith Oct 31 Sold 4,000 sh of Wang stock for $40 each Dec 31 Market price of the Wang stock is $50 each
Expert Answer:
Answer rating: 100% (QA)
Heres the journalized record of the investment transactions for Bonneau Inc July ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
What are the responsibilities and roles of health and safety legislation ?
-
Journalize the following investment transactions of Russell Corp.: 2017 Nov. 6 Purchased 1,200 common shares of Aveda Corporation at $78.00 per share, with brokerage commission of $500. The shares...
-
The balance sheet of Spottified Corp. recently included: Investments in significantly influenced and other companies $2,500,000 Spottified Corp. included its short-term investments among the current...
-
Segment (Division) Evaluation In this assignment you will analyze the performance of PepsiCo's divisions. SFAS 131 requires publicly traded companies to disclose division information in the notes to...
-
What do our four basic relationships imply about the relationship between two countries interest rates and the expected change in the exchange rate? Explain why you would or would not expect them to...
-
Why are cross currency rates of special interest when discussing inter-market arbitrage?
-
When a company uses direct labor, it traces the cost to the job by debiting a. Direct Labor. b. Wages Payable. c. Manufacturing Overhead. d. Work in Process Inventory.
-
Wallace Publishers has a large number of employees who use the companys single fax machine. Employees arrive randomly to use the fax machine at an average rate of 20 per hour. This arrival process is...
-
In a wheel of a bike, there are six spokes. If tensile forces in consecutive four spokes are 10N, 14N, 12N, and 5N respectively. Calculate the tensile forces in remaining two spokes. The wheel is in...
-
The following presents Oscar Equipment Companys draft financial statements for December 2022, with comparative figures for 2021. Amounts are in $000s. During 2022 (2021), the company declared and...
-
Two charges, +q and -q, are located in the x-y plane at points (0,+d/2) and (0,-d/2), respectively. Calculate the magnitude of the electric field at point P with the superposition principle. y d +q...
-
Find the area of the largest house Question The current selected programming language is Java. We emphasize the submission of a fully working code over partially correct but efficient code. Once...
-
Isabella makes $50,000 per year working full-time. What does Isabella make per hour? (A full-time job is nearly 2,000 hours per year.) Show your calculations.
-
On May 1, a corporation began operations, incurring $62,000 in organizational expenditures. If the corporation makes a 248 election, what is the total organizational expenditure deduction that it can...
-
Design an items/tickets/customer receiving system by implementing a combination of arrays and structures in a C program. Database system or data languages such as SQL is not required. Given that...
-
A mass resting on a horizontal, frictionless surface is attached to one end of a spring; the other end is fixed to a wall. It takes 3.9 J of work to compress the spring by 0.14 m. If the spring is...
-
The most common use of RMgX or RLi is to from a new carbon - metal bonds. Select one: True False
-
From 1970 to 1990, Sri Lanka's population grew by approximately 2.2 million persons every five years. The population in 1970 was 12.2 million people.What is the best formula for P, Sri Lanka's...
-
Deborah purchases a new $30,000 car in 2012 to use exclusively in her business. If Deborah does not elect to expense or take bonus depreciation in 2012 and holds the car until it is fully...
-
Laura is a single taxpayer living in New Jersey with adjusted gross income for the 2012 tax year of $35,550. Laura's employer withheld $3,300 in state income tax from her salary. In April of 2012,...
-
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
-
A ball rolls off a table and lands on the floor. The horizontal distance between the position at which the ball lands and the edge of the table is \(0.50 \mathrm{~m}\), and the tabletop is \(0.80...
-
A rifle is aimed horizontally at a target \(100 \mathrm{~m}\) away, and the bullet leaves the rifle barrel at \(650 \mathrm{~m} / \mathrm{s}\). If the gun is aimed right at the bull's-eye, by how...
-
The velocity of an object is given in SI units by \(\vec{v}=\left(a t-b t^{2} ight) \hat{\imath}+c \hat{\jmath}\), with \(a=14 \mathrm{~m} / \mathrm{s}^{2}, b=10 \mathrm{~m} / \mathrm{s}^{3}\), and...
Study smarter with the SolutionInn App