Gonzalez Company acquired $210,000 of Walker Co., 5% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $44,400 of the bonds for 95. Journalize entries to record the following in Year 1: For a compound transaction, if an amount box does not require an entry, leave it blank. a. The initial acquisition of the bonds on May 1. May 1 fill in the blank 2db398fc5fbefe9_2 fill in the blank 2db398fc5fbefe9_4 b. The semiannual interest received on November 1. Nov. 1 fill in the blank 12a681fdb06bff7_2 fill in the blank 12a681fdb06bff7_4 c. The sale of the bonds on November 1. Nov. 1 fill in the blank cee7ff00dfa3fc5_2 fill in the blank cee7ff00dfa3fc5_3 fill in the blank cee7ff00dfa3fc5_5 fill in the blank cee7ff00dfa3fc5_6 fill in the blank cee7ff00dfa3fc5_8 fill in the blank cee7ff00dfa3fc5_9 d. The accrual of $1,380 interest on December 31. Dec. 31 fill in the blank 3d1f55fa303ffba_2
Gonzalez Company acquired $210,000 of Walker Co., 5% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $44,400 of the bonds for 95. Journalize entries to record the following in Year 1: For a compound transaction, if an amount box does not require an entry, leave it blank. a. The initial acquisition of the bonds on May 1. May 1 fill in the blank 2db398fc5fbefe9_2 fill in the blank 2db398fc5fbefe9_4 b. The semiannual interest received on November 1. Nov. 1 fill in the blank 12a681fdb06bff7_2 fill in the blank 12a681fdb06bff7_4 c. The sale of the bonds on November 1. Nov. 1 fill in the blank cee7ff00dfa3fc5_2 fill in the blank cee7ff00dfa3fc5_3 fill in the blank cee7ff00dfa3fc5_5 fill in the blank cee7ff00dfa3fc5_6 fill in the blank cee7ff00dfa3fc5_8 fill in the blank cee7ff00dfa3fc5_9 d. The accrual of $1,380 interest on December 31. Dec. 31 fill in the blank 3d1f55fa303ffba_2
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 1E: Parilo Company acquired 170,000 of Makofske Co., 5% bonds on May 1, 2016, at their face amount....
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Gonzalez Company acquired $210,000 of Walker Co., 5% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $44,400 of the bonds for 95.
For a compound transaction, if an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
May 1 | fill in the blank 2db398fc5fbefe9_2 | ||
fill in the blank 2db398fc5fbefe9_4 |
b. The semiannual interest received on November 1.
Nov. 1 | fill in the blank 12a681fdb06bff7_2 | ||
fill in the blank 12a681fdb06bff7_4 |
c. The sale of the bonds on November 1.
Nov. 1 | fill in the blank cee7ff00dfa3fc5_2 | fill in the blank cee7ff00dfa3fc5_3 | |
fill in the blank cee7ff00dfa3fc5_5 | fill in the blank cee7ff00dfa3fc5_6 | ||
fill in the blank cee7ff00dfa3fc5_8 | fill in the blank cee7ff00dfa3fc5_9 |
d. The accrual of $1,380 interest on December 31.
Dec. 31 | fill in the blank 3d1f55fa303ffba_2 | ||
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