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please help starting with 12-31-21 As part of its normal business model , Surety Insurance invests customer's collected premiums to generate incomes through a wide
please help starting with 12-31-21 As part of its normal business model , Surety Insurance invests customer's collected premiums to generate incomes through a wide variety of investment vehicles. The Client has provided your Firm with a list of various transactions and has asked you to prepare the appropriate journal entries that they should use to record these transactions. Surety tells you that they have a Broker on staff and accordingly they incur no brokerage fees for any transaction. - On May 14, 2021 Surety paid $10,000 cash to purchase Taybor's 90 -day short-term debt securities ( $10,000 principal), dated May 14, 2021 that pay 8% interest. Surety expects to hold this security until maturity. On August 12, Surety received a check from Taybor in payment of the principal and 90 days' interest on the debt. - On 9-1-22 Surety purchased $20,000 of Albright Bonds. These 10% Bonds pay interest semiannually on 6-30 and 12-31 respectively and were purchased at a Market Value that was equal to Par Value. These Bonds mature 8-31-42, however, Surety has no expectation to hold them to maturity. - On 10-1-21 Surety purchased 500 Shares of BB Corp at $50/ Share. Surety expects to hold these shares for long-term appreciation in value. - At 12-31-21, the market value of the Albright Bonds had dipped to $19,500 due to interest rate changes and the market value of the BB Corp Stock was $60/ Share. - On December 15, 2021, Surety purchased 1,000 shares of SHSSG, Inc. at a cost of $13/ Share. Surety expects to actively trade in this security. Currently, this is the only securities that Surety is holding for active trading. On December 28 , Surety received a $1,500 cash dividend from the stock purchased on December 15. At December 31, 2021, the fair value of SHSSG, Inc. was \$14/Share. - On 1-1-22, Surety purchased 30,000 of the 100,000 shares outstanding of The Leadership Group, Inc. Surety paid $15/ Share. The Leadership Group, Inc. uses a fiscal year that ends on 2-28-22. Net Income at year end was $400,000. On 3-15-22 Surety receives a Dividend Check from The Leadership Group in the amount of $18,000. As you are wrapping up your work on 3-31-22, Jim Hadley, the Firm's Managing Partner stops by your Office and asks you what is the Surety's current position in The Leadership Group, Inc. After you answer his question, he says that he is looking forward to your meeting together on 4-21-22 at 12:30 pm. As part of its normal business model , Surety Insurance invests customer's collected premiums to generate incomes through a wide variety of investment vehicles. The Client has provided your Firm with a list of various transactions and has asked you to prepare the appropriate journal entries that they should use to record these transactions. Surety tells you that they have a Broker on staff and accordingly they incur no brokerage fees for any transaction. - On May 14, 2021 Surety paid $10,000 cash to purchase Taybor's 90 -day short-term debt securities ( $10,000 principal), dated May 14, 2021 that pay 8% interest. Surety expects to hold this security until maturity. On August 12, Surety received a check from Taybor in payment of the principal and 90 days' interest on the debt. - On 9-1-22 Surety purchased $20,000 of Albright Bonds. These 10% Bonds pay interest semiannually on 6-30 and 12-31 respectively and were purchased at a Market Value that was equal to Par Value. These Bonds mature 8-31-42, however, Surety has no expectation to hold them to maturity. - On 10-1-21 Surety purchased 500 Shares of BB Corp at $50/ Share. Surety expects to hold these shares for long-term appreciation in value. - At 12-31-21, the market value of the Albright Bonds had dipped to $19,500 due to interest rate changes and the market value of the BB Corp Stock was $60/ Share. - On December 15, 2021, Surety purchased 1,000 shares of SHSSG, Inc. at a cost of $13/ Share. Surety expects to actively trade in this security. Currently, this is the only securities that Surety is holding for active trading. On December 28 , Surety received a $1,500 cash dividend from the stock purchased on December 15. At December 31, 2021, the fair value of SHSSG, Inc. was \$14/Share. - On 1-1-22, Surety purchased 30,000 of the 100,000 shares outstanding of The Leadership Group, Inc. Surety paid $15/ Share. The Leadership Group, Inc. uses a fiscal year that ends on 2-28-22. Net Income at year end was $400,000. On 3-15-22 Surety receives a Dividend Check from The Leadership Group in the amount of $18,000. As you are wrapping up your work on 3-31-22, Jim Hadley, the Firm's Managing Partner stops by your Office and asks you what is the Surety's current position in The Leadership Group, Inc. After you answer his question, he says that he is looking forward to your meeting together on 4-21-22 at 12:30 pm
please help starting with 12-31-21
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