Please help me to solve this problem Vilna Ltd., during the year ended December 31, 2021, had the following transactionsrelated to money-market instruments recorded at amortized cost:2 Purchased a 120-day $100,000 treasury bill maturing on April 1 for$95,700.1 The treasury bill matured.1 Invested $75,000 in a money-market fund.31 Received notification that $188 of interest had been earned and added tothe fund.Jan.Apг.Aug.30 Received notification that $188 of interest had been earned and added tothe fund.Sept.15 Cashed the money-market fund and received $75,470.1 Purchased a 90 day, 2%, $40,000 treasury bill for $39,221.Oct.Nov.Instructions:a. Prepare the journal entries to record the above transactions.b. Prepare any required adjusting journal entries at December 31.Round amounts to the nearest dollar. Show ALL calculations

Money market instruments are the one in which amounts are invested to receive benefits within the…

Vilna Ltd., during the year ended December 31, 2021, had the following transactions related to money-market instruments recorded at amortized cost: 2 Purchased a 120-day $100,000 treasury bill maturing on April 1 for $95,700. The treasury bill matured. 1 Jan. Aprг. Aug. 1 Invested $75,000 in a money-market fund. 31 Received notification that $188 of interest had been earned and added to the fund. 30 Received notification that $188 of interest had been earned and added to the fund. Sept. 15 Cashed the money-market fund and received $75,470. Purchased a 90 day, 2%, $40,000 treasury bill for $39,221. Oct. Nov. 1 Instructions: a. Prepare the journal entries to record the above transactions. b. Prepare any required adjusting journal entries at December 31. Round amounts to the nearest dollar. Show ALL calculations

Vilna Ltd., during the year ended December 31, 2021, had the following transactions related to money-market instruments recorded at amortized cost: 2 Purchased a 120-day $100,000 treasury bill maturing on April 1 for $95,700. The treasury bill matured. 1 Jan. Aprг. Aug. 1 Invested $75,000 in a money-market fund. 31 Received notification that $188 of interest had been earned and added to the fund. 30 Received notification that $188 of interest had been earned and added to the fund. Sept. 15 Cashed the money-market fund and received $75,470. Purchased a 90 day, 2%, $40,000 treasury bill for $39,221. Oct. Nov. 1 Instructions: a. Prepare the journal entries to record the above transactions. b. Prepare any required adjusting journal entries at December 31. Round amounts to the nearest dollar. Show ALL calculations

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 5RE

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Vilna Ltd., during the year ended December 31, 2021, had the following transactions related to money-market instruments recorded at amortized cost: 2 Purchased a 120-day $100,000 treasury bill maturing on April 1 for $95,700. 1 The treasury bill matured. 1 Invested $75,000 in a money-market fund. 31 Received notification that $188 of interest had been earned and added to the fund. 30 Received notification that $188 of interest had been earned and added to the fund. 15 Cashed the money-market fund and received $75,470. 1 Purchased a 90 day, 2%, $40,000 treasury bill for $39,221. Jan. Apr. Aug. Sept. Oct. Nov. Instructions: a. Prepare the journal entries to record the above transactions. b. Prepare any required adjusting journal entries at December 31. Round amounts to the nearest dollar. Show ALL calculations for full marks.
Ayayai Corporation, during the year ended October 31, 2024, had the following transactions for money - market instruments purchased to earn interest: Jan. 2 Purchased a 90-day, $34,800 treasury bill maturing on May 1 for $ 34,591. May 1 The treasury bill matured. Aug. 1 Invested $56, 600 in a money - market fund. Aug. 31 Received notification that $142 of interest had been earned and added to the fund. Sept. 30 Received notification that $142 of interest had been earned and added to the fund. Oct. 1 Purchased a 60-day, 2.00%, $26, 100 treasury bill for $25,970. Oct. 15 Cashechthe money - market fund and received $56,955. (a) Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)…
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