Floyd corporation had the following transactions pertaining

Assignment Help Accounting Basics

Reference no: EM13612992

Floyd Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 50 8%, $1,700 Petal Co. bonds for $85,000 cash plus brokerage fees of $750. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Petal Co. bonds. July 1 Sold 30 Petal Co. bonds for $57,800 less $480 brokerage fees.

(a) Journalize the transactions.

(b) Prepare the adjusting entry for the accrual of interest at December 31.

Reference no: EM13612992

Questions Cloud

At december 31 2014 the trading securities for oglesbee inc : at december 31 2014 the trading securities for oglesbee inc. are as follows. security cost fair value a 17600 16400 b

Presented below are two independent situations 1 chicory : presented below are two independent situations. 1. chicory cosmetics acquired 15 of the 105400 shares of common stock

If the cd rotates clockwise lets take clockwise rotation as : if the cd rotates clockwise lets take clockwise rotation as positive at 500 revolutions per minute while the last song

Estimate the wave drag experienced by the airplane assume : the wing area of the lockheed f-104 straight-wing supersonic fighter airplane is approximately 210 ft2. the weight of

Floyd corporation had the following transactions pertaining : floyd corporation had the following transactions pertaining to debt investments. jan. 1 purchased 50 8 1700 petal co.

Comet orbits are highly elliptical a periodic comet : comet orbits are highly elliptical. a periodic comet orbiting a two solar mass star with an orbital period of 200 years

A company must decide between scrapping or reworking units : a company must decide between scrapping or reworking units that do not pass inspection. the company has 13000 defective

Estimate a the percentage chain in toque accompanying a 20 : an axial turbine of high hub-tip ratio runs with zero degree reaction and peak efficiency at design flow and speed. the

A planar slab of thickness of 300 cm has a uniform volume : a planar slab of thickness of 3.00 cm has a uniform volume charge density of 3.20 times 10-2 c m3. find the magnitude

User Account

All Pages