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please make journal entries from above info 9On 12/31/14, ABC issued 5,000 shares of $3 pat value common stock at the closing matket price of
please make journal entries from above info
9On 12/31/14, ABC issued 5,000 shares of $3 pat value common stock at the closing matket price of $7 per shate. Ptepare ABC's journal enty to reflect the issuance of the stock on 12/31/14. B 10 On 7/1/14, ABC sold 12% bonds having a maturity value of S800,000 for $861,771 resulting in an effective yield of 100 The bonds are 9 dated 7/1/14, and mature 7/1/19. Interest is payable semiannually on July 1 and January 1. ABC uses the effective interest method of 1Hint: Develop an abbreviated amortization schedule to accurately deteimine the interest expense. 4 11 The following information is available for ABC Corporation at 12/31/14 regarding its investments in stocks of other companies. amortization for bond premium or discount. Record the adjusting entry for the accrual of interest and the related amortization on 12/31/14. Securities 2,200 shares of Toyota Corporation Common Stock 1,100 shares of G.M. Corporation Common Stock Cost Fair Value $ 100,000 125,000 S 67000 S 34,000 8 9 0Prepare the adjusting entry (if any) for 2014, assuming the securities are classified as trading. S 167,000 $ 159,000 31Step by Step Solution
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