Please explain how to calculate this to get an answer like the key above (check the picture for the complete question) for number 39, 40, 41, 42, 47, 48, 49, and 65

Chapter : INVESTMENTS

39. On January 1, 2008, Turner Company purchased at face value, a $1,000, 7% bond that pays interest on January 1 and July 1. Turner Company has a calendar year end. The entry for the receipt of interest on July 1, 2008, is

40. On January 1, 2008, Turner Company purchased at face value, a $1,000, 7% bond that pays interest on January 1 and July 1. Turner Company has a calendar year end. The adjusting entry on December 31, 2008, is

41. On January 1, 2008, Turner Company purchased at face value, a $1,000, 7% bond that pays interest on January 1 and July 1. Turner Company has a calendar year end. The entry for the receipt of interest on January 1, 2009 is

42. On January 1, 2008, Turner Company purchased at face value, a $1,000, 7% bond that pays interest on January 1 and July 1. Turner Company has a calendar year end. On January 1, Barone Company purchased as a short-term inverstment a $1.000, 8% bond for $1,050. The bond pays interest on January 1 and July 1. The bond is sold on October 1 for $1,200 plus accrued interest. Interest has not been accrued since the last interest payment date. What is the entry to record the cash proceeds at the time the bond is sold?

47. Pima Company acquires 50, 10%, 5 year, $1,000 Community bonds on January 1, 2008 for $51,250. This includes a brokerage commission of $1,250. The journal entry to record this investment includes a debit to

48. Pima Company acquires 50, 10%, 5 year, $1,000 Community bonds on January 1, 2008 for $51,250. This includes a brokerage commission of $1,250. Assume Community pays interest on January 1 and July 1, and the July 1 entry was done correctly. The journal entry at December 31, 2008 would include a credit to

49. Pima Company acquires 50, 10%, 5 year, $1,000 Community bonds on January 1, 2008 for $51,250. This includes a brokerage commission of $1,250. If Pima sells all of its Community bonds for $52,000 and pays $1,500 in brokerage commissions, what gain or loss is recognized?

65. Jacobs Corporation makes a short-term investment in 100 shares of Starr Company's common stock. The stock is purchased for $50 a share plus brokerage fees of $300. The entry for the purchase is

Use the following information for questions 39-41. On January 1, 2008. Turner Company purchased at face value, a $1,000,7% bond that pays interest on January 1 and July 1. Tumer Company has a calendar year end. 39. The entry for the receipt of interest on July 1, 2008, is a Cash... 35 Interest Revenue 35 b. Cash 70 Interest Revenue 70 C. Interest Receivable... 35 Interest Revenue 35 d. Interest Receivable 70 Interest Revenue 70 40. The adjusting entry on December 31, 2008, is a. not required. b. Cash..... 35 Interest Revenue 35 c. Interest Receivable.... 35 Interest Revenue 35 d. Interest Receivable 35 Debt Investments... 35 41. The entry for the receipt of interest on January 1, 2009 is a. Cash 70 Interest Revenue 70 b. Cash 70 Interest Receivable... 70 G. Cash 35 Interest Revenue 35 d. Cash 35 Interest Receivable... 35 42 On January 1, Barone Company purchased as a short-term investment a $1,000, 8% bond for $1,050. The bond pays interest on January 1 and July 1. The bond is sold on October 1 for $1.200 plus accrued interest. Interest has not been accrued since the last interest payment date. What is the entry to record the cash proceeds at the time the bond is sold? a. Cash 1,200 Debt Investments 1,200 b. Cash 1,220 Debt Investments.. 1,050 Gain on Sale of Debt Investments 150 Interest Revenue 20 C. Cash 1.220 Debt Investments 1.200 Interest Revenue 20 d. Cash... . 1,200 Debt Investments 1,050 Gain on Sale of Debt Investments 150 Use the following information for questions 47-49. Pima Company acquires 50, 10%, 5 year, $1,000 Community bonds on January 1, 2008 for $51,250. This includes a brokerage commission of $1,250. 47 The journal entry to record this investment includes a debit to a. Debt Investments for $50.000 b. Debt Investments for $51.250. C. Cash for $51,250. d. Stock Investments for $50.000 . 48 Assume Community pays interest on January 1 and July 1, and the July 1 entry was done correctly. The journal entry at December 31, 2008 would include a credit to a. Interest Receivable for $2,500 b. Interest Revenue for $5,000. C. Accrued Expense for $5,000. d. Interest Revenue for $2,500 . 49 If Pima sells all of its Community bonds for $52,000 and pays $1.500 in brokerage commissions, what gain or loss is recognized? a. Gain of $2,000 b. Loss of $750 C. Gain of $750 d. Gain of $3,000 65 Jacobs Corporation makes a short-term investment in 100 shares of Starr Company's a common stock. The stock is purchased for $50 a share plus brokerage fees of $300. The entry for the purchase is a. Debt Investments 5,000 Cash 5,000 b. Stock Investments 5,300 Cash. 5.300 c. Stock Investments 5,000 Brokerage Fee Expense 300 Cash 5,300