E16.8 (LO 3) AP Following is information for Marcel Ltée's investments held for trading. Marcel is a public company and has a December 31 year end. 2024 Sept. 28 Purchased 3,500 shares of Cygman Limited for $40 per share. Oct. 1 Nov. 12 Dec. 1 Purchased $300,000 of Rauk Inc. 4% bonds at face value. The bonds pay interest semi-annually on April 1 and October 1. Sold 1,900 Cygman shares for $42 per share. Received $1.50 per share dividend from Cygman. 31 Cygman shares were trading at $38 per share and the Rauk bonds were trading at 101. 2025 Mar. 31 Sold the remaining Cygman shares for $40 per share. Apr. 1 Received interest on the Rauk bonds. Oct. 1 Received interest on the Rauk bonds. Dec. 31 Rauk bonds were trading at 102. Instructions Record the above transactions, including any required adjusting entries, for 2024 and 2025.

E16.8 (LO 3) AP Following is information for Marcel Ltée's investments held for trading. Marcel is a public company and has a December 31 year end. 2024 Sept. 28 Purchased 3,500 shares of Cygman Limited for $40 per share. Oct. 1 Nov. 12 Dec. 1 Purchased $300,000 of Rauk Inc. 4% bonds at face value. The bonds pay interest semi-annually on April 1 and October 1. Sold 1,900 Cygman shares for $42 per share. Received $1.50 per share dividend from Cygman. 31 Cygman shares were trading at $38 per share and the Rauk bonds were trading at 101. 2025 Mar. 31 Sold the remaining Cygman shares for $40 per share. Apr. 1 Received interest on the Rauk bonds. Oct. 1 Received interest on the Rauk bonds. Dec. 31 Rauk bonds were trading at 102. Instructions Record the above transactions, including any required adjusting entries, for 2024 and 2025.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Give me correct answer with explanation
Acc
On June 30, 2020 Montana Inc. purchased Upper Armour Co. 8% $30,000 5-year bonds at 95. Montana uses the straight-line amortization method of premiums and discounts. The bonds pay interest semiannually on June 30thand December 31. Montana classifies the investment as trading securities. At December 31 the bonds had a fair market value of $28,000. Record the Journal entries for all transactions above. (Hint: you should have 3)
On January 1st 2023, MSI Inc issues $500,000 4%, 6 year bonds at face value. Prepare the entry to record the issuance of the bonds.
None
A Company issued $5,00,000/- new capital divided into $.10/- shares at a premium of $4/- per share payable as On Application $1/- per share On Allotment $4/- per share & $.2/- premium On Final Payment $.5/- per share & $.2/- premium Overpayments on application were to be applied towards sum due on allotment. Where no allotment was made money was to be returned in full. The issue was oversubscribed to the extent of 13,000 shares. Applicants for 12,000 shares were allotted only 1,000 shares and applicants for 2,000 were sent letters of regret. All money due on allotment and final call was duly received. Make the necessary entries in the company‟s book.
Rahul bhaliya
On, January 25, 2025 Samantha corporation purchases investment bonds in Tyler corporation for $20,000 cash. The bonds paid 10% semiannually, and had accrued interest for $250 at the time of the purchase. Record the transaction.
Am. 113.