Stock investment transactions, equity method and available-for-sale securitiesSoto Industries, Inc. is an athletic footware company that began operations on January 1, 2021. The following are bond (held-to-maturity) transactions by Soto Industries, Inc., which has a fiscal year ending on December 31:2021Apr. 1 Purchased $100,000 of Welch Co. 6% 15-year bonds at their face amount plus accrued interest of $500. The bonds pay interest semiannually on March 1 and September 1.June 1 Purchased $210,000 of Bailey 4% 10-year bonds at their face amount plus accrued interest of $700. The bonds pay interest semiannually on May 1 and November 1.Sept. 1 Received semiannual interest on the Welch Co. bonds.Sept. 30 Sold $40,000 of Welch Co. bonds at 97 plus accrued interest of $200.Nov. 1 Received semiannual interest on the Bailey bonds.Dec. 31 Accrued interest on the Welch Co. bonds.Dec. 31 Accrued interest on the Bailey bonds.2022Mar. 1 Received semiannual interest on the Welch Co. bonds.May 1 Received semiannual interest on the Bailey bonds.Instructions1. Journalize the entries to record the preceding transactions. Problem 15-3AQuestion 12021Apr.JuneSept.Sept. 1Nov.Dec.Dec.2022Mar.1May130WrongWrongWrong1WrongWrongWrong1WrongWrongWrongWrongWrongWrongWrong31 WrongWrongWrongWrongWrong31 WrongWrongWrongWrongWrongWrongWrongWrong PR 15-3A Stock investment transactions, equity method andavailable-for-sale securitiesSoto Industries, Inc. is an athletic footware company that began operationson January 1, 2021. The following are bond (held-to-maturity) transactionsby Soto Industries, Inc., which has a fiscal year ending on December 31:2021Apr. 1June 1Sept. 1Sept. 30Nov. 1Dec. 31Dec. 312022Mar. 1May 1Purchased $100,000 of Welch Co. 6% 15-year bonds at their faceamount plus accrued interest of $500. The bonds pay interestsemiannually on March 1 and September 1.Purchased $210,000 of Bailey 4% 10-year bonds at their face amountplus accrued interest of $700. The bonds pay interest semiannuallyon May 1 and November 1.Received semiannual interest on the Welch Co. bonds.Sold $40,000 of Welch Co. bonds at 97 plus accrued interest of $200.Received semiannual interest on the Bailey bonds.Accrued interest on the Welch Co. bonds.Accrued interest on the Bailey bonds.Received semiannual interest on the Welch Co. bonds.Received semiannual interest on the Bailey bonds.Instructions1. Journalize the entries to record the preceding transactions.Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage.

Journal A journal is a thorough account that documents all of a company's financial activities. It…

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FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Stock investment transactions, equity method and
available-for-sale securities
Soto Industries, Inc. is an athletic footware company that began operations
on January 1, 2021. The following are bond (held-to-maturity) transactions
by Soto Industries, Inc., which has a fiscal year ending on December 31:
2021
Apr. 1 Purchased $100,000 of Welch Co. 6% 15-year bonds at their face
amount plus accrued interest of $500. The bonds pay interest
semiannually on March 1 and September 1.
June 1 Purchased $210,000 of Bailey 4% 10-year bonds at their face amount
plus accrued interest of $700. The bonds pay interest semiannually
on May 1 and November 1.
Sept. 1 Received semiannual interest on the Welch Co. bonds.
Sept. 30 Sold $40,000 of Welch Co. bonds at 97 plus accrued interest of $200.
Nov. 1 Received semiannual interest on the Bailey bonds.
Dec. 31 Accrued interest on the Welch Co. bonds.
Dec. 31 Accrued interest on the Bailey bonds.
2022
Mar. 1 Received semiannual interest on the Welch Co. bonds.
May 1 Received semiannual interest on the Bailey bonds.
Instructions
1. Journalize the entries to record the preceding transactions.

PR 15-3A Stock investment transactions, equity method and
available-for-sale securities
Soto Industries, Inc. is an athletic footware company that began operations
on January 1, 2021. The following are bond (held-to-maturity) transactions
by Soto Industries, Inc., which has a fiscal year ending on December 31:
2021
Apr. 1
June 1
Sept. 1
Sept. 30
Nov. 1
Dec. 31
Dec. 31
2022
Mar. 1
May 1
Purchased $100,000 of Welch Co. 6% 15-year bonds at their face
amount plus accrued interest of $500. The bonds pay interest
semiannually on March 1 and September 1.
Purchased $210,000 of Bailey 4% 10-year bonds at their face amount
plus accrued interest of $700. The bonds pay interest semiannually
on May 1 and November 1.
Received semiannual interest on the Welch Co. bonds.
Sold $40,000 of Welch Co. bonds at 97 plus accrued interest of $200.
Received semiannual interest on the Bailey bonds.
Accrued interest on the Welch Co. bonds.
Accrued interest on the Bailey bonds.
Received semiannual interest on the Welch Co. bonds.
Received semiannual interest on the Bailey bonds.
Instructions
1. Journalize the entries to record the preceding transactions.
Warren, C. S., Jonick, C. A., & Schneider, J. S., (2021). Accounting (28 ed.). Boston, MA: Cengage.

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