Demopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $55,000 of the bonds for 98. Journalize the entries to record the following: 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 a5307e01af9f064_2 fill in the blank a5307e01af9f064_3 fill in the blank a5307e01af9f064_5 fill in the blank a5307e01af9f064_6 b. The semiannual interest received on November 1. Nov. 1 fill in the blank 19e6b7081ff3f90_2 fill in the blank 19e6b7081ff3f90_3 fill in the blank 19e6b7081ff3f90_5 fill in the blank 19e6b7081ff3f90_6 c. The sale of the bonds on November 1. Nov. 1 fill in the blank 7f4689fdef9d03a_2 fill in the blank 7f4689fdef9d03a_3 fill in the blank 7f4689fdef9d03a_5 fill in the blank 7f4689fdef9d03a_6 fill in the blank 7f4689fdef9d03a_8 fill in the blank 7f4689fdef9d03a_9 d. The accrual of $950 interest on December 31. Dec. 31 fill in the blank 19ebffff0fc3f9b_2 fill in the blank 19ebffff0fc3f9b_3 fill in the blank 19ebffff0fc3f9b_5 fill in the blank 19ebffff0fc3f9b_6
Demopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $55,000 of the bonds for 98. Journalize the entries to record the following: 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 a5307e01af9f064_2 fill in the blank a5307e01af9f064_3 fill in the blank a5307e01af9f064_5 fill in the blank a5307e01af9f064_6 b. The semiannual interest received on November 1. Nov. 1 fill in the blank 19e6b7081ff3f90_2 fill in the blank 19e6b7081ff3f90_3 fill in the blank 19e6b7081ff3f90_5 fill in the blank 19e6b7081ff3f90_6 c. The sale of the bonds on November 1. Nov. 1 fill in the blank 7f4689fdef9d03a_2 fill in the blank 7f4689fdef9d03a_3 fill in the blank 7f4689fdef9d03a_5 fill in the blank 7f4689fdef9d03a_6 fill in the blank 7f4689fdef9d03a_8 fill in the blank 7f4689fdef9d03a_9 d. The accrual of $950 interest on December 31. Dec. 31 fill in the blank 19ebffff0fc3f9b_2 fill in the blank 19ebffff0fc3f9b_3 fill in the blank 19ebffff0fc3f9b_5 fill in the blank 19ebffff0fc3f9b_6
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Entries for bond (held-to-maturity) investments
Demopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $55,000 of the bonds for 98.
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 a5307e01af9f064_2 | fill in the blank a5307e01af9f064_3 | |
fill in the blank a5307e01af9f064_5 | fill in the blank a5307e01af9f064_6 |
b. The semiannual interest received on November 1.
Nov. 1 | fill in the blank 19e6b7081ff3f90_2 | fill in the blank 19e6b7081ff3f90_3 | |
fill in the blank 19e6b7081ff3f90_5 | fill in the blank 19e6b7081ff3f90_6 |
c. The sale of the bonds on November 1.
Nov. 1 | fill in the blank 7f4689fdef9d03a_2 | fill in the blank 7f4689fdef9d03a_3 | |
fill in the blank 7f4689fdef9d03a_5 | fill in the blank 7f4689fdef9d03a_6 | ||
fill in the blank 7f4689fdef9d03a_8 | fill in the blank 7f4689fdef9d03a_9 |
d. The accrual of $950 interest on December 31.
Dec. 31 | fill in the blank 19ebffff0fc3f9b_2 | fill in the blank 19ebffff0fc3f9b_3 | |
fill in the blank 19ebffff0fc3f9b_5 | fill in the blank 19ebffff0fc3f9b_6 |
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