equired for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate alculations. Round your final answers to the nearest whole dollar amount.) 2023 Mar. 1 Paid $69,980 to purchase a $69,000, two-year, 9.5% bond payable of Action Corporation dated March 1. There was a $85 transaction fee included in the above-noted payment amount. Interest is paid quarterly beginning June 1. Management intends to actively trade bond purchases. Apr. 16 Bought 2,600 common shares of Brandon Motors at $26.00. There was a $85 transaction fee included in the above-noted payment amount. May 2 Paid $50,968 to purchase a five-year, 7.00%, $52,000 bond payable of Collingwood Corporation. There was a $85 transaction fee included in the above-noted payment amount. Interest is paid annually each April 30. June 1 Received a cheque from Action Corporation regarding quarterly interest. Aug. 1 Brandon Motors board of directors declared a dividend of $0.75 per share to shareholders of record on August 10, payable August 15. 15 Received the Brandon Motors dividend. Sept. 1 Received a cheque from Action Corporation regarding quarterly interest. 17 Purchased 26,200 Dauphin Inc. common shares at $3.50. There was a $85 transaction fee. Oct. 20 Sold the Brandon Motors shares at $31.10. Dec. 1 Received a cheque from Action Corporation regarding quarterly interest. 1 Sold the Action Corporation bond at 101. 31 Accrued interest on the Collingwood bond. The fair value of the equity security on this date was Dauphin, $3.80. The carrying value equalled the fair value for the Collingwood bond. 2024 Apr. 30 Received a cheque from Collingwood Corporation regarding annual interest. View transaction list 7 8 Record the collection of interest income. Record the purchase of investment. 9 Record the sale of investment. 10 Record the collection of interest. 11 Record the sale of investment. 12 Record the accrual of interest. 13 Record the fair value adjustment at year end. X " / 14 ld as an Credit >

equired for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate alculations. Round your final answers to the nearest whole dollar amount.) 2023 Mar. 1 Paid $69,980 to purchase a $69,000, two-year, 9.5% bond payable of Action Corporation dated March 1. There was a $85 transaction fee included in the above-noted payment amount. Interest is paid quarterly beginning June 1. Management intends to actively trade bond purchases. Apr. 16 Bought 2,600 common shares of Brandon Motors at $26.00. There was a $85 transaction fee included in the above-noted payment amount. May 2 Paid $50,968 to purchase a five-year, 7.00%, $52,000 bond payable of Collingwood Corporation. There was a $85 transaction fee included in the above-noted payment amount. Interest is paid annually each April 30. June 1 Received a cheque from Action Corporation regarding quarterly interest. Aug. 1 Brandon Motors board of directors declared a dividend of $0.75 per share to shareholders of record on August 10, payable August 15. 15 Received the Brandon Motors dividend. Sept. 1 Received a cheque from Action Corporation regarding quarterly interest. 17 Purchased 26,200 Dauphin Inc. common shares at $3.50. There was a $85 transaction fee. Oct. 20 Sold the Brandon Motors shares at $31.10. Dec. 1 Received a cheque from Action Corporation regarding quarterly interest. 1 Sold the Action Corporation bond at 101. 31 Accrued interest on the Collingwood bond. The fair value of the equity security on this date was Dauphin, $3.80. The carrying value equalled the fair value for the Collingwood bond. 2024 Apr. 30 Received a cheque from Collingwood Corporation regarding annual interest. View transaction list 7 8 Record the collection of interest income. Record the purchase of investment. 9 Record the sale of investment. 10 Record the collection of interest. 11 Record the sale of investment. 12 Record the accrual of interest. 13 Record the fair value adjustment at year end. X " / 14 ld as an Credit >

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section19.6: Buying Intangible Assets And Calculating Amortization Expense

Problem 1OYO

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