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Please please help with this quiz I have no idea how to complete it fully. I am very lost when it comes to accounting Camhn'dge

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Please please help with this quiz I have no idea how to complete it fully. I am very lost when it comes to accounting

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Camhn'dge Hat Company preuiwsly purchased 25,000 Shana uftrBaSury shock on the open market far '31? per share Later, the company malls 13,011] shares for $19 per share What is the juumaL entry for me saLe? [ash 24mm 0 Treasury Stuck 2 21,000 Paid-in CapitalTreasury Stack: 25,000 [ash 24mm 0 Treasury Stuck 25,000 Paid-in CapitalTreasury Stack: 221,00!) [ash 241000 0 Traacl In! Ems-Ir '1'11 nnn Question 8 (5 pdihts) E On January 10, Acme Ventures Inc. purchased 35% 0f the 0u13tanding stuck of Gamma Ray Manufacturing C0rp. The purchase was 38,000 shares at $22 per share. Acme received dividends fr0m Gamma Ray in the arn0unt 0f $40,000 on June 15 and again on December 15. Gamma reported net inc0 me for the 1,.rear ended December 31 in the amount of $550,000. What is the account balance of Acme's investment in Gamma Ila}:r on December 31? 0 $1,000,500 0 $1,042,500 0 $1,028,500 I 0 $1,055,000 Save \"Ulhllul 3 I'll IJ'U'IIIDIJ \"- A. High Adventure Corp. issues $15 0,000 of 9%, 10-year bonds for 95. High Adventure usa the straight-Line memo-d to amortize any bond discounls or premium The bonds pay interEIt semia nnually. 0n the maturity date of the bond, what is the jou maL entry for the nal interest payment and the redemption of the bondszypb Bonds Payable 144,003 C} Interest Expense 13,350 Cash 155,?50 Discount on Bonds Payable 500 Cash 144,000 0 Discount on Bonds Payable 4,000 Bonds Payable 150,000 V Question 10 (5 points} H (In January 1, 201?, 10w50n Inr. issued $525,000, 20year, 8% 00005 at 13. Interest is payable 52mia nnually on January 1 and July 1. The joumal entry to record this nan5acti0n on January 1, 201?, is: 0 Cash 525,000 Bonds Payable 525,000 Cash 525,000 I 0 Premium 0n Bunds Payable 15,?50 Bonds Payable 5441],}:"50 0 Cash 540,150 Question 0 [b p0ln[S_] M Smith Ventures Inc. purchased 12% of the uuislanding stuck bednes Company. Smith paid $15 per share to acquire 11,000 shares and wiLl treat this purchase as availablefursale securities. Par vaLue of the stud: is $2. Smith usa a Glendar year, and on December 31, the market 1il'aLue deunes stud: is $18 per share. What is the entry Smith needs to make on December 31? D AvailablefurSale Securities 33,000 Unrealized Gain on AvailabLe-ferSale SecuritiE 33,000 C} no entry is required because the stud: has not been soLd. D Unrealized Gain on Available-fur-Sale Securities 33,000 Available-fdr-Sale Securities 33,000 D AvailablefurSale Securities 3,960 Question ? {5 points} Q Richmond Corpomtion has issued an ouEtanding common stock of 803D!) shares, $5 par value. On Jul",r 1, the company:r pays a 3for-2 stock split 1What are the Legal capital and the par value of the stock immediately after the split? 0 Legal capital, $4l; par value, $3.33. 0 Legal capital, $813,12HJD; par value, $5. 0 Legal capital, $11--Ell; par value, $5. 0 Legal capital, $600900; par value, $151). Save Question 8 {5 points} Q (in Janllarv 1n Arms- 'ul'entures Inc nurrhased 35% of the outstandino stock of Gamma Rav Manlifarrurinn fnrn The r'lurl'hr-II-ZIFI Question 11 (20 points} Salisbury Corporation formed a corporation on January 3, 201?, and is authorized to issue 400,000 shares of $6 par vaLue common stock. The company has me following stock transactions. H10! 1}" 1,05,!1? Efly'l? E? U1 5,31 3' W131? 931201? 10f15f1? 1251 53,31? Issued 19 5,000 shares of stock at $19 per share. The law rm that helped the company incorporate and ti le all forms for the stock issue accepts 800 Shara of newly issued stock in lieu of cash for its legal bill rendered. The amount of the Legal bill was $3 3,000. Salisbury Corporation declares a $0.65 per share dividend payabLe July 15 to shareholders of record as of June 30, 201?. The record date for the dividend declared on June 10. The dividend declared on June 10 is paid. Salisbury Corporation declare: a 11% stock dividend payable on September 30 to sha rehoLders of record as of September 20. The market value of the stock was $21 immediately prior to the deda ration of the stock dividend. The stock dividend declared on September 15 is paid. Salisbury Corporation buys 10,000 shan of its own stock on the open market for $18.?5 per share. Salisbury Corporation reselE 2,500 shares of the treasury stock for $19.05 per share. .___ . . ___= . .__.__ . "'"'l' _ _ _" ' . | _ Jl |_|_J|~llILJ LlJH A 1AA? Aoeount to debit Amount . """""""""" 1' """"""""""""""""""""""""""""""""""" " """"""""" 1' """"""""" 1 Account to credit Account to credit g Amount Aoeount to debit 511011? Aeeount to debit Amount . """""""""" T ''''''''''''''''''''''''''''''''''''''''''''' i' """"""""" T """"""""" 1 Account to credit Amount 6130\"? No entry:r required on record date iitmi Acmunttn debit Amount v (in June 1, 20d? Alpha Corn pansr selE $1,400,00 face 1ll'aLue of 9% ve year bonds which call for semiannual interest payments. The bonds are dated April 1, EDI? so these bonds are issued between interEt data. The market late at the date of issue is also sac For simplicity, use a BEDclay year and 342] dayr months for all caLculations 1. Record the journal entries for the issuance of the bonds 2- Record the journalentn'es for the rst irrterEt payment due on lDict-eloer 1, 201?. Assume that interest has not been accrued at eam month end (in April 1, 201? Alpha Company sells $2,?SD,DDU face yaLue of 9% lryear bonds whim caLl for semiannual interest payments The bonds are dated April 1, low so these bonds are issued on an interest date. The bonds were priced at $2,936,8i'5 and had a market rate at the date of issue oft Use me straight line method of amortization of any bond premium or discount For simplicity, use a BED-day year and Erl] day montrE for all caLculations. 1- Record the joumalentnes for the issuance of the bonds 2- Record the journalentn'es for the rst interEt payment due on October 1, 2131?. Assume that interest has not been accmed at eam month end I-II In- T + Ill QM aw Em\"? inocuuntto debit EAmuuntE Amount to debit Amount r ................. T ......................................... + .................. 4'. .................. 1 Accountto credil Amount 1mm? Amount to debit Amount

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