STUDENT NAME

PROBLEM I: On January $1,2016,$ Texas Credit Union $($TCU$)$ issued $6\%,20-$year bonds payable with face value of $$600,000.$ The bonds pay interest on June $30$ and December $31.$ The issue price of the bonds is $96.$ Journalize the following bond transactions:

a$).$ Issuance of the bonds on January $1,2016$

b$).$ Payment of interest and amortization on June $30,2016.$

c$).$ Payment of interest and amortization on December $31,2016.$

d$).$ Retirement of the bond at maturity on December $31,2035.$

PROBLEM $2$: Ship your Way Corporation generated excess cash and invested in securities as follows:

${2016}_{?}$

July $2$ Purchased $3,600$ shares of TJF$,$ Inc. Common stock at $$11\mathrm{.}00$ per share. Ship you Way holds the stock in its active trading account and plans to sell the stock within three months, when the company will need the cash for normal operations.

Aug. $21$ Received a cash dividend of $$0\mathrm{.}10$ per share on the TJF Stock investment

Sept $16.$ Sold the TJF Stock for $$15\mathrm{.}10$ per share

Oct $8$ Purchased $400$ shares of Seanco stock at $$13\mathrm{.}00$ per share. The stock is held in the active trading account as Ship Your Way plans to hold the Seanco stock for less than five months.

Dec. $31.$ Seanco stock's current market price is $$5\mathrm{.}00$ per share.

Requirements:

Journalize the $2016$ transactions. Explanations are not required.