Bond investment : Bond investments are debt securities which pay fixed interest revenue to the investor. Journal entry : Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically. Debit and credit rules: Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts. Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts. To journalize : The bond investment transactions in the books of Company S.

Question

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Answer 1

Question

Chapter 13, Problem 4EX

a)

To determine

Bond investment:

Bond investments are debt securities which pay fixed interest revenue to the investor.

Journal entry:

Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The bond investment transactions in the books of Company S.

(b)

To determine

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

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Answer 2

Question

Chapter 13, Problem 4EX

a)

To determine

Bond investment:

Bond investments are debt securities which pay fixed interest revenue to the investor.

Journal entry:

Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The bond investment transactions in the books of Company S.

(b)

To determine

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

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Answer 3

Question

Chapter 13, Problem 4EX

a)

To determine

Bond investment:

Bond investments are debt securities which pay fixed interest revenue to the investor.

Journal entry:

Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The bond investment transactions in the books of Company S.

(b)

To determine

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

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Answer 4

Question

Chapter 13, Problem 4EX

a)

To determine

Bond investment:

Bond investments are debt securities which pay fixed interest revenue to the investor.

Journal entry:

Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The bond investment transactions in the books of Company S.

(b)

To determine

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

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Answer 5

Chapter 13, Problem 4EX

a)

To determine

Bond investment:

Bond investments are debt securities which pay fixed interest revenue to the investor.

Journal entry:

Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The bond investment transactions in the books of Company S.

(b)

To determine

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

Answer 6

Chapter 13, Problem 4EX

a)

To determine

Bond investment:

Bond investments are debt securities which pay fixed interest revenue to the investor.

Journal entry:

Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The bond investment transactions in the books of Company S.

Answer 7

Chapter 13, Problem 4EX

a)

To determine

Bond investment:

Bond investments are debt securities which pay fixed interest revenue to the investor.

Journal entry:

Journal entry is a set of economic events which can be measured in monetary terms. These are recorded chronologically and systematically.

Debit and credit rules:

Debit an increase in asset account, increase in expense account, decrease in liability account, and decrease in stockholders’ equity accounts.

Credit decrease in asset account, increase in revenue account, increase in liability account, and increase in stockholders’ equity accounts.

To journalize: The bond investment transactions in the books of Company S.

Answer 8

(b)

To determine

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

Answer 9

(b)

To determine

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 13 - Prob. 1DQ Ch. 13 - What causes a gain or loss on the sale of a bond...Ch. 13 - Prob. 3DQ Ch. 13 - Prob. 4DQ Ch. 13 - Prob. 5DQ Ch. 13 - Prob. 6DQ Ch. 13 - Prob. 7DQ Ch. 13 - Prob. 8DQ Ch. 13 - What are the factors contributing to the trend...Ch. 13 - Prob. 10DQ

Solution Summary: The author explains that bond investments are debt securities which pay fixed interest revenue to the investor. Journal entry is a set of economic events which can be measured in monetary terms.

To Prepare: journal entry for accrued semiannual interest on December 31, 2016.

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Chapter 13 Solutions