QUESTION 1 In January 2021, the management of Stefan SE concludes that it has sufficient cash to permit some short-term investments in debt and share securities. During the year, the following transactions occurred. Date Feb 1 July 1 Aug 1 Aug 20 Dec 31, 2021 Jan 1, 2022 Feb 15, 2022 Details Purchased 600 ordinary shares of Superior (10%) for €32,400. Received a cash dividend of €0.60 per share on the Superior ordinary shares. Sold 200 ordinary shares of Superior at €52 per share. Purchased 50 €1,000, 7% Venice bonds for €50,000. Interest is payable semiannually. Accrued interest on the Venice bonds. Received interest on Venice bonds. Sold 20 Venice bonds for €49,000. REQUIRED: Journalize the above transactions.
QUESTION 1 In January 2021, the management of Stefan SE concludes that it has sufficient cash to permit some short-term investments in debt and share securities. During the year, the following transactions occurred. Date Feb 1 July 1 Aug 1 Aug 20 Dec 31, 2021 Jan 1, 2022 Feb 15, 2022 Details Purchased 600 ordinary shares of Superior (10%) for €32,400. Received a cash dividend of €0.60 per share on the Superior ordinary shares. Sold 200 ordinary shares of Superior at €52 per share. Purchased 50 €1,000, 7% Venice bonds for €50,000. Interest is payable semiannually. Accrued interest on the Venice bonds. Received interest on Venice bonds. Sold 20 Venice bonds for €49,000. REQUIRED: Journalize the above transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION 1
In January 2021, the management of Stefan SE concludes that it has sufficient cash to permit
some short-term investments in debt and share securities. During the year, the following
transactions occurred.
Date
Feb 1
July 1
Aug 1
Aug 20
Dec 31, 2021
Jan 1, 2022
Feb 15, 2022
Details
Purchased 600 ordinary shares of Superior (10%) for €32,400.
Received a cash dividend of €0.60 per share on the Superior ordinary
shares.
Sold 200 ordinary shares of Superior at €52 per share.
Purchased 50 €1,000, 7% Venice bonds for €50,000. Interest is payable
semiannually.
Accrued interest on the Venice bonds.
Received interest on Venice bonds.
Sold 20 Venice bonds for €49,000.
REQUIRED:
Journalize the above transactions.
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