da Tema #5 (E): Inversiones Financiers Terminal #S: Los estudiantes diferenciará
ID: 2601356 • Letter: D
Question
da Tema #5 (E): Inversiones Financiers Terminal #S: Los estudiantes diferenciarán la manera de co financieras. cribirá porqué las empresas hacen una inversión Capacitantes #1 : El estudiante des financiera. ness make financial investments. (Shows references are required) 25. Describe why busi Capacitantes #2: El estudiante registrará transacciones relacionadas a inversiones financieras en deuda y acciones 26, On January 1, 2017, Parsons Company purchased $84,000, 10 year, 7% government bonds at 100. The semi-annual interest payment dates are June 30 and December 31. Required: (Shows computations and references are required) (1) Journalize the entry to record the bond purchase. (2) Journalize the receipt of interest at June 30 and December 31, 2017. (3) Journalize the February 1, 2018 sale of the bonds for $82,000 plus accrued interest for one month. Debit CreditExplanation / Answer
Solution:
a. 2017 Sept. 1
Investments—Government Bonds 84,000
Interest Receivable………...........980*
Cash……………………………..84,980*
$84,000 x 7%2/12 = 980
b.2017 Dec.31
Cash……………………2,940 *
Interest Receivable……………..980
Interest Revenue ……………….1,960
(84,000 x 7% x 6/12)
c. 2018
Feb. 1
Cash………………………………………….82,490*
Loss on Sale of Investments……............…2,000
Investments—Government Bonds …………..84,000
Interest Revenue ………………....……………490
(84,000 * 7% x 6/12)
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