Round your answers to the nearest whole number

Assignment Help Accounting Basics

Reference no: EM131989125

Problem

Alpha Inc. is a medium size company with a September 30 year-end. From time to time, the company has extra cash on hand which it uses to make short-term investments. During the past year, the company completed the following transactions:

Jan 1 Lent $32,000 to another company at an annual rate of 8% and due in 6 months.

Mar 30 Purchased 15 Dark Company bonds priced at $800 each with interest payable semi-annually on September 1 and March 1 at an annual rate of 11%. The company also paid for the amount of accrued interest owing.

Apr 18 Purchased 420 shares of GHI Company at $61 per share.

July 1 Received full proceeds from the loan of January 1, including interest.

Sep 1 Received 6 months interest payment on the Dark Company bonds.

Sep 1 Received dividend of $4.00 per share on the GHI Company shares.

Sep 30 Year-end adjustment: record the interest accrued on the Dark Company bonds.

Oct 24 Sold 240 GHI Company shares for $72 per share

Dec 25 Sold 180 GHI Company shares for $52 per share

Required

Record journal entries for each of the above transactions.

Do not enter dollar signs or commas in the input boxes.

Round your answers to the nearest whole number.

For transactions that have 2 debits or 2 credits, enter the accounts in alphabetical order.

Reference no: EM131989125

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