Reference no: EM131146951
P17-7 (Available-for-Sale and Held-to-Maturity Debt Securities Entries)
The following information relates to the debt securities investments of Wildcat Company.
1. On February 1, the company purchased 10% bonds of Gibbons Co. having a par value of $300,000 at 100 plus accrued interest. Interest is payable April 1 and October 1.
2. On April 1, semiannual interest is received.
3. On July 1, 9% bonds of Sampson, Inc. were purchased. These bonds with a par value of $200,000 were purchased at 100 plus accrued interest. Interest dates are June 1 and December 1.
4. On September 1, bonds with a par value of $60,000, purchased on February 1, are sold at 99 plus accrued interest.
5. On October 1, semiannual interest is received.
6. On December 1, semiannual interest is received. 7. On December 31, the fair value of the bonds purchased February 1 and July 1 are 95 and 93, respectively.
Instructions
(a) Prepare any journal entries you consider necessary, including year-end entries (December 31), assuming these are available-for-sale securities.
(b) If Wildcat classified these as held-to-maturity investments, explain how the journal entries would differ from those in part (a).
|
Control the amount of hiv viruses in an infected person
: Draw a block diagram of a feedback system designed to control the amount of HIV viruses in an infected person.
|
|
Decide which companys stock is the better investment
: After evaluating these companies' financial data, you will then decide which company's stock is the better investment.
|
|
Who are the primary facilitators of the group
: Who are the primary facilitators of the group? What subject or issues did the group members examine during the meeting? What types of information did members exchange in their group? What were the group's norms, roles, status hierarchy, or communicat..
|
|
Compute the payback for both projects and choose better one
: Compute the payback for both projects and choose better one. Compute net present value and recommend betterproject.
|
|
Make any journal entries you consider necessary
: Prepare any journal entries you consider necessary, including year-end entries (December 31), assuming these are available-for-sale securities.
|
|
Provide an overview of the biological and psychological
: Proceed with this week's Discussion by addressing the following about the nature of substance use disorders: Provide an overview of the biological, psychological, sociocultural theories surrounding the causes of substance use disorders.
|
|
Draw a functional closed loop block diagram
: Draw a functional closed loop block diagram similar to Figure 1.8(d) identifying the input and output transducers, the controller, and the plant.
|
|
Draw the functional block diagram of the automatic volume
: show the following signals: the desired volume as an input, the actual volume as an output, and voltages representing speed, desired volume, and actual volume.
|
|
Prepare a pension worksheet for the pension plan
: On January 1, 2014, Harrington Company has the following defined benefit pension plan balances. Prepare a pension worksheet for the pension plan for 2014 and 2015.
|