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Dreyden Investments completed the following investment transactions during 2018: I only need requirements 2 and 3 as 1 is already completed. thank you!! 0 More
Dreyden Investments completed the following investment transactions during 2018:
0 More Info 2018 Jan. 5 Purchased Vince Company's $600,000 bond at face value. Dreyden classified the investment as available-for-sale. The Vince bond pays interest at the annual rate of 10% on June 30 and December 31 and matures on December 31, 2021. Management's intent is to keep the bonds for several years. Received an interest payment from Vince. Received an interest payment from Vince. Adjusted the investment to its current market value of $590,500. Jun. 30 Dec. 31 Dec. 31 Print Done i Requirements X 1. Journalize Dreyden's investment transactions. Explanations are not required. 2. Prepare a partial balance sheet for Dreyden's Vince investment as of December 31, 2018. 3. Prepare a comprehensive income statement for Dreyden Investments for year ended December 31, 2018. Assume net income was $300,000. Print Done Begin by journalizing Dreyden's investment on January 5, 2018. Date Accounts and Explanation Debit Credit 2018 Jan. 5 Available-for-Sale Debt Investments 600,000 Cash 600,000 Purchased investment in bonds. Next, joumalize the receipt of cash interest on June 30, 2018. Date Accounts and Explanation Debit Credit 2018 Jun. 30 Cash 30,000 Interest Revenue 30,000 Received cash interest. Now joumalize the receipt of cash interest on December 31, 2018. Date Accounts and Explanation Debit Credit 2018 Dec. 31 30,000 Cash Interest Revenue 30,000 Received cash interest. Finally, journalize the year-end adjustment, if any. Date Accounts and Explanation Debit Credit 2018 Dec. 31 9,500 Unrealized Holding Loss Available-for-Sale Fair Value Adjustment-Available-for-Sale 9.500 Adjusted available-for-sale debt investment to market value. Ronniremont Dronara onartial halanro choot for rouriante Vinca Investment se af Maramher 21 2018 Choose from any list or enter any number in the innuit fields and then elink Chark Anwar Requirement 2. Prepare a partial balance sheet for Dreyden's Vince investment as of Use the partial balance sheet below to show how to report the investment on Dreyden not select a label or enter a zero.) Dreyden Investments Balance Sheet (Partial) December 31, 2018 Current Assets: Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Choose from any list or enter any number in the input fields and then click Check A 1 part remaining la nc es Available-for-Sale Debt Investment (at cost) Available-for-Sale Debt Investment (at fair value) Held-to-Maturity Debt Investment (at cost) Held-to-Maturity Debt Investment (at fair value) Trading Debt Investment (at cost) Trading Debt Investment (at fair value) Unrealized Holding Gain-Available-for-Sale Unrealized Holding Gain-Held-to-Maturity Unrealized Holding Gain-Trading Unrealized Holding Loss-Available-for-Sale Unrealized Holding LossHeld-to-Maturity Unrealized Holding Loss-Trading Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Choose from any list or enter any number in the input fields and th 0 More Info 2018 Jan. 5 Purchased Vince Company's $600,000 bond at face value. Dreyden classified the investment as available-for-sale. The Vince bond pays interest at the annual rate of 10% on June 30 and December 31 and matures on December 31, 2021. Management's intent is to keep the bonds for several years. Received an interest payment from Vince. Received an interest payment from Vince. Adjusted the investment to its current market value of $590,500. Jun. 30 Dec. 31 Dec. 31 Print Done i Requirements X 1. Journalize Dreyden's investment transactions. Explanations are not required. 2. Prepare a partial balance sheet for Dreyden's Vince investment as of December 31, 2018. 3. Prepare a comprehensive income statement for Dreyden Investments for year ended December 31, 2018. Assume net income was $300,000. Print Done Begin by journalizing Dreyden's investment on January 5, 2018. Date Accounts and Explanation Debit Credit 2018 Jan. 5 Available-for-Sale Debt Investments 600,000 Cash 600,000 Purchased investment in bonds. Next, joumalize the receipt of cash interest on June 30, 2018. Date Accounts and Explanation Debit Credit 2018 Jun. 30 Cash 30,000 Interest Revenue 30,000 Received cash interest. Now joumalize the receipt of cash interest on December 31, 2018. Date Accounts and Explanation Debit Credit 2018 Dec. 31 30,000 Cash Interest Revenue 30,000 Received cash interest. Finally, journalize the year-end adjustment, if any. Date Accounts and Explanation Debit Credit 2018 Dec. 31 9,500 Unrealized Holding Loss Available-for-Sale Fair Value Adjustment-Available-for-Sale 9.500 Adjusted available-for-sale debt investment to market value. Ronniremont Dronara onartial halanro choot for rouriante Vinca Investment se af Maramher 21 2018 Choose from any list or enter any number in the innuit fields and then elink Chark Anwar Requirement 2. Prepare a partial balance sheet for Dreyden's Vince investment as of Use the partial balance sheet below to show how to report the investment on Dreyden not select a label or enter a zero.) Dreyden Investments Balance Sheet (Partial) December 31, 2018 Current Assets: Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Choose from any list or enter any number in the input fields and then click Check A 1 part remaining la nc es Available-for-Sale Debt Investment (at cost) Available-for-Sale Debt Investment (at fair value) Held-to-Maturity Debt Investment (at cost) Held-to-Maturity Debt Investment (at fair value) Trading Debt Investment (at cost) Trading Debt Investment (at fair value) Unrealized Holding Gain-Available-for-Sale Unrealized Holding Gain-Held-to-Maturity Unrealized Holding Gain-Trading Unrealized Holding Loss-Available-for-Sale Unrealized Holding LossHeld-to-Maturity Unrealized Holding Loss-Trading Long-term Assets: Stockholders' Equity Accumulated Other Comprehensive Income: Choose from any list or enter any number in the input fields and th I only need requirements 2 and 3 as 1 is already completed. thank you!!
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