Solution-Create record for the old country company require

Create record for the old country company require at january

Assignment Help Financial Accounting

Reference no: EM132487555

The Old Country Company purchased the following instruments during the year. Assume the company's fiscal year end is January 31, 2022.

Dec 1, 2021 Purchased a $ 5,000 120-day treasury bill for $ 4,935. The treasury bills are trading at a market rate of interest of 4% annually.

Feb 1, 2022 Purchased at 101 a $ 15,000, 5% 5-year Laurent Bank of Canada bond. Interest is paid semi-annually. The market rate of interest was 3.5%. The bonds were purchased to trade.

Mar 30, 2022 Treasury bill matured.

Aug 1, 2022 Received interest on the Laurent Bank of Canada bond.

Aug 2, 2022 Sold the Laurent Bank of Canada bond at 99.

Required:

Question 1: Record the above transactions, and any necessary adjusting entries for The Old Country Company required at January 31, 2022

Reference no: EM132487555

Questions Cloud

Obtaining the whole principal back : Under what circumstances will the financial institution benefit from obtaining the whole principal back?

What three areas will impact sports in the future : What three areas will impact sports in the future? What are some positive and negative aspects in the future of sport?

Determine the incremental profit of three joint products : Determine the incremental profit or loss that each of the three joint products. (Enter negative amounts using either a negative sign preceding the number)

Compute the break-even point in units : Compute the break-even point in units and sales dollars for the current year. Viejol Corporation has collected the following information after its first year

Create record for the old country company require at january : Record the above transactions, and any necessary adjusting entries for The Old Country Company required at January 31, 2022

Computer forensic analysis - create pretended crime scenario : Create a pretended crime scenario that needs computer forensic analysis. Along with the crime scenario, create digital clues that may be left

What is the difference in our everyday or natural : What is the difference in our everyday or "natural" way of thinking about the social world and the sociological way of thinking about the social world?

Compute the contribution margin for the current year : Compute the contribution margin for the current year and the projected year, and the fixed costs for the current year. (Assume that fixed costs)

Traits are shared by the somali migrants : Sociologist Louis Wirth remarked that minority groups share particular traits. According to this theory, which of the following traits are shared by the Somali

User Account

All Pages

Create record for the old country company require at january

Reference no: EM132487555

Reference no: EM132487555

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT