Solution Manual for Accounting 29th Edition by Carl Warren

    $55.00

    • Publisher ‏ : ‎ Cengage Learning; 29th edition (February 23, 2023)
    • Language ‏ : ‎ English
    • ISBN-10 ‏ : ‎ 0357899644
    • ISBN-13 ‏ : ‎ 978-0357899649
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    Solution Manual for Accounting 29th Edition by Carl Warren

    Table of Content

    TOPIC 1: INVESTMENTS ASSIGNMENTS

    B1–1
    Held-to-maturity, trading, and available-for-sale securities

    B1–2
    The primary objective of investing in held-to-maturity securities is to earn interest revenue and collect the face value of the security at its maturity date.

    B1–3
    Cost method

    B1–4
    Held-to-maturity securities that will mature within one year are reported as current assets. Securities maturing beyond one year are reported as long-term assets.

    B1–5 a.

    b.

    c.

    d.

    Investments—Vasquez City Bonds

    420,000

    Interest Receivable

    6,300

    Cash

    Cash ($420,000 × 6% × 1/2)

    12,600

    426,300

    Interest Receivable

    6,300

    Cash

    Interest Revenue

    Loss on Sale of Investments

    208,950*

    6,300

    2,100

    Interest Revenue

    1,050

    Investments—Vasquez City Bonds

    210,000

    * Sales proceeds ($210,000 × 99%)…………………………………… Accrued interest………………………………………………………… Total proceeds from sale………………………………………………

    Cash
    Investments—Vasquez City Bonds

    $207,900 1,050 $208,950

    210,000
    210,000

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