signment 4B-2021 - Word References Mailings Review View Help SE24 A A A A A-DA- . 1 Normal 1 No Spac... Heading 1 Heading 2 Title Paragraph Styles Sept 1: Received $1 per share cash dividend on the Burger King common stock. Date Account Debit Credit Oct 1: Received the semiannual interest on the McDonalds bonds. Date Account Debit Credit Oct 1: Sold the McDonalds bonds for $72,000. Date Account Debit Credit b. Prepare the adjusting entry at December 31, to report the investments at fair value. All securities are considered to be trading securities. FMV are California Pizza ($40) and Burger King ($32). Cost Fair Value Security California Pizza stock Burger King stock TAN Focu . e a July 1: Received a cash dividend of $.50 per share on the California Pizza common stock. Debit Credit Date 711 Account Cash (800 shares x 0.5/share) Dividend received 400 400 Aug 1: Sold 200 shares of California Pizza common stock at $43 per share. Date Account Debit Credit 811 Cash 8,600 LOSS on sale investment 1,850 Cali pizza common stock 10,450 ACC207 Principles of Accounting 11 Assignment #4B Problem #1: Darden Restaurant In January the management of Darden Restaurant concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, these transactions occurred: Feb 1: Purchased 800 shares of California Pizza common stock for $41,800. Account Debit Credit Date 2/1 41,800 Call Pizza common stock Cash 41,800 Mar 1: Purchased 550 shares of Burger King common stock for $20,300. Credit Date Account Burger King common stock cash Debit 20.300 3/1 20.300 April 1: Purchased 75, $1.000, 129 McDonalds bonds for $76,200. Interest is payable semiannually on April 1 and October 1. Account Credit Date 411 Debit 76.200 12% Mcdonalds bonds D to search a o . signment 4B-2021 - Word References Mailings Review View Help SE24 A A A A A-DA- . 1 Normal 1 No Spac... Heading 1 Heading 2 Title Paragraph Styles Sept 1: Received $1 per share cash dividend on the Burger King common stock. Date Account Debit Credit Oct 1: Received the semiannual interest on the McDonalds bonds. Date Account Debit Credit Oct 1: Sold the McDonalds bonds for $72,000. Date Account Debit Credit b. Prepare the adjusting entry at December 31, to report the investments at fair value. All securities are considered to be trading securities. FMV are California Pizza ($40) and Burger King ($32). Cost Fair Value Security California Pizza stock Burger King stock TAN Focu . e a July 1: Received a cash dividend of $.50 per share on the California Pizza common stock. Debit Credit Date 711 Account Cash (800 shares x 0.5/share) Dividend received 400 400 Aug 1: Sold 200 shares of California Pizza common stock at $43 per share. Date Account Debit Credit 811 Cash 8,600 LOSS on sale investment 1,850 Cali pizza common stock 10,450 ACC207 Principles of Accounting 11 Assignment #4B Problem #1: Darden Restaurant In January the management of Darden Restaurant concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, these transactions occurred: Feb 1: Purchased 800 shares of California Pizza common stock for $41,800. Account Debit Credit Date 2/1 41,800 Call Pizza common stock Cash 41,800 Mar 1: Purchased 550 shares of Burger King common stock for $20,300. Credit Date Account Burger King common stock cash Debit 20.300 3/1 20.300 April 1: Purchased 75, $1.000, 129 McDonalds bonds for $76,200. Interest is payable semiannually on April 1 and October 1. Account Credit Date 411 Debit 76.200 12% Mcdonalds bonds D to search a o
