Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 03 Aug 2017 My Price 9.00

Cardinal Paz Corp

P17-3 (Available-for-Sale Investments) Cardinal Paz Corp. carries an account in its general ledgercalled Investments, which contained debits for investment purchases, and no credits, with the followingdescriptions.Feb. 1, 2014 Sharapova Company common stock, $100 par, 200 shares $ 37,400April 1 U.S. government bonds, 11%, due April 1, 2024, interest payableApril 1 and October 1, 110 bonds of $1,000 par each 110,000July 1 McGrath Company 12% bonds, par $50,000, dated March 1, 2014,purchased at 104 plus accrued interest, interest payableannually on March 1, due March 1, 2034 54,000Instructions(Round all computations to the nearest dollar.)(a) Prepare entries necessary to classify the amounts into proper accounts, assuming that all the securitiesare classified as available-for-sale.(b) Prepare the entry to record the accrued interest and the amortization of premium on December 31,2014, using the straight-line method.(c) The fair values of the investments on December 31, 2014, were:Sharapova Company common stock $ 31,800U.S. government bonds 124,700McGrath Company bonds 58,600What entry or entries, if any, would you recommend be made?(d) The U.S. gove

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Maurice Tutor
(5)
Status NEW Posted 03 Aug 2017 08:08 PM My Price 9.00

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