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please show the workings and calculations to each questions, not just the answers. thank you in advance 12. On January 1, 2015, XYZ Company purchased
please show the workings and calculations to each questions, not just the answers. thank you in advance 12. On January 1, 2015, XYZ Company purchased at face value, a $1.000.4% bond that pays interest on January 1 and July 1. XYZ has a calendar year end. The joumal entry for the receipt of interest on July 1, 2015, is Answer: 13. On January 1, 2015, Milton Company purchased at face value, a $1,000,6% bond that pays interest on January 1 and July 1. Milton Company has a calendar year end. The adjusting journal entry on December 31, 2015, is Answer: 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 $1,100 plus accrued interest. Interest has not been accrued since the last interest payment date. What is the journal entry to record the cash proceeds at the time the bond is sold? Answer 15. ABC Corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $20 a share. Elston sold the shares for $30 a share. The journal entry to record the sale Answer: 16. Mouns Company owns 30% interest in the stock of Darian Corporation. During the year, Darian pays $20,000 in dividends to Mouns, and reports $100,000 in net income. Mouns Company's investment in Darian will increase Answer: On January 1, 2015, Garner Corporation purchased 25% of the common stock outstanding of Landon Corporation for $3000,000. During 2010, Landon Corporation reported net income of $120,000 and paid cash dividends of $60,000. The balance of the Stock InvestmentsLandon account on the books of Garner Corporation at December 31, 2015 is
please show the workings and calculations to each questions, not just the answers. thank you in advance
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