Martinakom

Not Rated (0)

$12/per page/Negotiable

About Martinakom

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Architecture and Design,Biology,Business & Finance,Calculus,Chemistry,Computer Science,Geology Hide all
Teaching Since: Jul 2017
Last Sign in: 398 Weeks Ago, 5 Days Ago
Questions Answered: 5023
Tutorials Posted: 5024
Category > Business & Finance Posted 19 Aug 2017 My Price 7.00

The following information relates to the HTM debt securities investments of Kiran Company during 2016: January 1:

Hello,

Need help with homework:

.  The following information relates to the HTM debt securities investments of Kiran Company during 2016:

 

a.    January 1:  The company purchased 9% bonds of Tempe Co. having a par value of $150,000 at 101 plus accrued interest.  Interest is payable March 1 and September 1.  Maturity date is 9/1/17

 

b.    March 1:  Semiannual interest is received and amortization is updated.

 

c.     July 1:  8% bonds of Flagstaff were purchased.  The bonds had a par value of $72,000 and were purchased at 97 plus accrued interest.  Interest dates are May 1 and November 1.  Maturity date is 11/1/17.

 

d.    September 1:  Semiannual interest is received and amortization updated for the Tempe bonds.

 

e.    November 1:  Semiannual interest is received and amortization updated for the Flagstaff bonds.

 

f.     December 31:  Interest is accrued and amortization updated for both set of bonds.

 

 

Required:

Prepare journal entries for all dates. Present journal entries for the Tempe bonds (a, b, d, f), then journal entries for the Flagstaff bonds (c, e, f).  No explanations or supporting computations are required.  Use straight-line amortization.  When computing amortization, round the monthly amortization amounts to the nearest cent.  However, journal entry amounts can be rounded to the nearest dollar.

Answers

Martinakom
Not Rated (0)
Status NEW Posted 19 Aug 2017 12:08 PM My Price 7.00

Hel-----------lo -----------Sir-----------/Ma-----------dam----------- Â-----------  -----------Tha-----------nk -----------you----------- fo-----------r y-----------our----------- in-----------ter-----------est----------- an-----------d b-----------uyi-----------ng -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------. P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll -----------be -----------qui-----------ckl-----------y

Not Rated(0)