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please help me! thanks Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds

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Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 Bond a. Prepare a bond amortization schedule for 2020 and 2021 using the effective interest method. Note: Round each amount entered into the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. Stated Market Discount Date Interest Interest Amortization Amortized Cost Jul. 1, 2020 77,970 X Jan. 1, 2021 $ 3,600 X $ 3,899 x $ 299 X Jul. 1, 2021 3,600 x 3,913 X 313 x 78,582 X 78,269 X Check Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 b. Record the entry for the purchase of the bonds by West Company on July 1, 2020. c. Record the adjusting entry by West Company on December 31, 2020. The fair value of the bonds at December 31, 2020, was $64,800. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Name Dr. Cr. b. Jul. 1, 2020 Investment in HTM Securities 77,970 X 0 Cash 0 77,970 X Dec. 31, 2020 Investment in HTM Securities 299 X 0 Interest Receivable X 3,600 x 0 Investment Income 0 3,899 X c Check Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 d. Indicate the effects of this investment on the 2020 income statement and year-end balance sheet. Note: List accounts in alphabetical order. 2020 Income Statement Other Revenues and Gains Interest Revenue 3,899 X December 31, 2020 Balance Sheet Assets Investment in HTM Securities Interest Receivable 78,269 X 3,600 X Check Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 e. Record the receipt of interest on January 1, 2021. f. After the interest payment on July 1, 2021, two of the bonds were sold for $15,440 cash. Provide the required entries on July 1, 2021. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Name Dr. Cr. e. Jan. 1, 2021 Cash 3,600 x 0 Interest Receivable 0 3,600 x f. Jul. 1, 2021 Investment in HTM Securities 313 x 0 Cash X 3,600 x 0 Investment Income 0 3,913 X To record receipt of interest. Jul. 1, 2021 Cash 19,300 x 0 Loss on Sale of Investment 346 X 0 Investment in HTM Securities 0 19,646 x To record sale of bonds. X Check Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 Bond a. Prepare a bond amortization schedule for 2020 and 2021 using the effective interest method. Note: Round each amount entered into the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. Stated Market Discount Date Interest Interest Amortization Amortized Cost Jul. 1, 2020 77,970 X Jan. 1, 2021 $ 3,600 X $ 3,899 x $ 299 X Jul. 1, 2021 3,600 x 3,913 X 313 x 78,582 X 78,269 X Check Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 b. Record the entry for the purchase of the bonds by West Company on July 1, 2020. c. Record the adjusting entry by West Company on December 31, 2020. The fair value of the bonds at December 31, 2020, was $64,800. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Name Dr. Cr. b. Jul. 1, 2020 Investment in HTM Securities 77,970 X 0 Cash 0 77,970 X Dec. 31, 2020 Investment in HTM Securities 299 X 0 Interest Receivable X 3,600 x 0 Investment Income 0 3,899 X c Check Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 d. Indicate the effects of this investment on the 2020 income statement and year-end balance sheet. Note: List accounts in alphabetical order. 2020 Income Statement Other Revenues and Gains Interest Revenue 3,899 X December 31, 2020 Balance Sheet Assets Investment in HTM Securities Interest Receivable 78,269 X 3,600 X Check Recording Entries for HTM Debt Securities- Effective Interest Method On July 1, 2020, West Company purchased for cash, seven $10,000 bonds of North Corporation to yield 10%. The bonds pay 9% interest, payable on a semiannual basis each July 1 and January 1, and mature on July 1, 2023. The bonds are classified as held-to-maturity securities. The annual reporting period ends December 31. Assume the effective interest method of amortization of any discount or premium. Amortization Schedule Journal Entries in 2020 Financial Statement Presentation Journal Entries in 2021 e. Record the receipt of interest on January 1, 2021. f. After the interest payment on July 1, 2021, two of the bonds were sold for $15,440 cash. Provide the required entries on July 1, 2021. Note: List multiple debits or credits (when applicable) in alphabetical order. Note: If a line in a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Date Account Name Dr. Cr. e. Jan. 1, 2021 Cash 3,600 x 0 Interest Receivable 0 3,600 x f. Jul. 1, 2021 Investment in HTM Securities 313 x 0 Cash X 3,600 x 0 Investment Income 0 3,913 X To record receipt of interest. Jul. 1, 2021 Cash 19,300 x 0 Loss on Sale of Investment 346 X 0 Investment in HTM Securities 0 19,646 x To record sale of bonds. X Check

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