Sunland Care centers Inc. provides financing and capital to the healthcare industry, with a particular focus on nursing homes for the elderly. The following selected transactions related to bonds acquired as an investment by Sunland, whose fiscal year end on December 31. 2022 Jan 1 Purchased at face value $2,781,000of Javier Nursing centers, Inc, 10-year, 5% bonds dated January 1, 2022, directly from Javier. Dec 31 Accrual of interest at year end on Javier bonds. Assume that all intervening transactions and adjustments have been properly recorded and the number of bonds owned has not changed from December 31, 2022, to December 31, 2024. 2025 Jan 1 Received the annual interest on the Javier bonds. Jan 1 Sold $1,390,500 Javier bonds at 104. Dec 31 Accrual of interest at year end on the Javier bonds. (a) Journalize the listed transactions for the years 2022 and 2025. (b) (c)
Sunland Care centers Inc. provides financing and capital to the healthcare industry, with a particular focus on nursing homes for the elderly. The following selected transactions related to bonds acquired as an investment by Sunland, whose fiscal year end on December 31.
2022
Jan 1 Purchased at face value $2,781,000of Javier Nursing centers, Inc, 10-year, 5% bonds dated January 1, 2022, directly from Javier.
Dec 31 Accrual of interest at year end on Javier bonds.
Assume that all intervening transactions and adjustments have been properly recorded and the number of bonds owned has not changed from December 31, 2022, to December 31, 2024.
2025
Jan 1 Received the annual interest on the Javier bonds.
Jan 1 Sold $1,390,500 Javier bonds at 104.
Dec 31 Accrual of interest at year end on the Javier bonds.
(a) Journalize the listed transactions for the years 2022 and 2025.
(b)
(c)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
