Abc invested in a 200000 8 bond issued by the stu company

Reference no: EM13484297

Prepare the proper adjusting journal entries for the ABC Company. Assume all entries are made at year end, December 31, 2013.

1. A building with a cost of $450,000 a salvage value of $50,000 is purchased on January 1, 2013.

2. The ABC company pays its 10 employees $200 per day, the pay week being Monday through Friday with pay day being the following Tuesday. December 31st is on a Wednesday.

3. ABC borrows $200,000 from Citibank on June 1, 2013. No payments have yet been made to Citibank by ABC.

4. ABC invested in a $200,000, 8% bond issued by the STU Company on March 1st 2013. No payments have been received to date from STU

Reference no: EM13484297

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