Stuart Corp. purchased $80,000 of Dumb Co. bonds and $120,000 of Silly Inc. bonds. Both investments are classified as trading. As of December 31, the Dumb Co. bonds are selling for $90,000 and the Silly Inc. bonds are selling for $140,000 per share. Stuart had net income of $150,000 before reporting the impact of investment transactions. Required: a Record the December 31 adjusting entries for investments b. What is Stuart Corp.'s net inoome after adjusting for investments? c. What is the appropriate balance sheet presentation for these investments?

Cardinal Paz Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. Feb. 1, 2025 April 1 July 1 (a) Sharapova Company common stock, $100 par, 200 shares U.S. government bonds, 11%, due April 1, 2035, interest payable April 1 and October 1, 110 bonds of $1,000 par each McGrath Company 12% bonds, par $50,000, dated March 1, 2025, purchased at 104 plus accrued interest, interest payable annually on March 1, due March 1, 2045 Account Titles and Explanation Debt Investments Prepare entries necessary to classify the amounts into proper accounts, assuming that the debt securities are classified as available-for-sale. Sharapova has 200,000 shares outstanding. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the…

Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and interest is paid semiannually. The journal entry for the purchase would be. Oa. debit Investments-Evans Company Bonds, $100,000; credit Interest Revenue, $1,500, and Cash, $98,500 Ob. debit Investments-Evans Company Bonds, $100,000, and Interest Receivable $1,500; credit Cash, $101,500 Oc. debit Investments-Evans Company Bonds, $101,500; credit Cash, $101,500 Od. debit Investments-Evans Company Bonds, $100,000; credit Cash, $100,000

Entries for Investment in Bonds, Interest, and Sale of Bonds Gonzalez Company acquired $160,800 of Walker Co., 4% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $48,000 of the bonds for 95. Journalize entries to record the following in Year 1: For a compound transaction, if an amount box does not require an entry, leave it blank. cash/interest receivable/interest revenue/intestments-walker co. bonds/notes receivable/gain on sale of investments/loss on sale of investments/   a.  The initial acquisition of the bonds on May 1. May 1   fill in the blank c03a4cfc3fb402e_2         fill in the blank c03a4cfc3fb402e_4 b.  The semiannual interest received on November 1. Nov. 1   fill in the blank 6a1691048043fc2_2         fill in the blank 6a1691048043fc2_4 c.  The sale of the bonds on November 1. Nov. 1   fill in the blank ef2f17f46f98feb_2 fill in the blank…

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Tamarisk Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. F-b. 1.2025 July 1 (a) (5) Sharapova Company common stock, $100 par, 200 shares U.S. government bonds, 11%, due April 1, 2035, interest payable April 1 and October 1, 108 bonds of 31000 par cách McGrath Company 12% bonds, par $54,100, dated March 1, 2025, purchased at 104 plus accrued interest, interest payable annually on March 1, due March 1, 2045 Your answer is partially correct. Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2025, using the straight-line method. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Ifna entry is required, select "No Entry for the account titles and enter Ofor the amounts. Round answers to 0 decimal places. 5.19251 Date Account Titles and…

Subject :- Accounting

Brooks Company purchases debt investments as trading securities at a cost of $71,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $90,000. Brooks sells a portion of its trading securities (costing $35,500) for $40,250 cash. Analyze each transaction above by showing its effects on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction.

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Bucks' Corporation purchases debt investments as trading securities at acost of $150,000on December .1 This si its first and only purchase of such securities. On January 5, Buck's Corporation decidesot sel aportion foits trading securities ( costing $18,000) for $20,000 cash. Prepare the journal entry ot record the January 5sale: