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Prepare journal entries to record the following transactions involving both the short-term and long-term inves?0immanuel2012-07-22 04:17:02
Prepare journal entries to record the following transactions involving both the short-term and long-term investments of Corveau Corp., all of which occurred during calendar year 2009. Use the account Short-Term Investments for any transactions that you determine are short term. a. On February 15, paid $100,000 cash to purchase Anthem's 90-day short-term notes at par, which are dated February 15 and pay 6% interest (classified as held-to-maturity). b. On March 22, bought 600 shares of Frain Industries common stock at $43 cash per share plus a $140 brokerage fee (classified as long-term available-for-sale securities). c. On May 15, received a check from Anthem in payment of the principal and 90 days' interest on the notes purchased in transaction a. d. On July 30, paid $30,000 cash to purchase Moto Electronics' 5% notes at par, dated July 30, 2009, and maturing on January 30, 2010 (classified as trading securities). e. On September 1, received a $0.40 per share cash dividend on the Frain Industries common stock purchased in transaction b. f. On October 8, sold 300 shares of Frain Industries common stock for $49 cash per share, less a $120 brokerage fee. g. On October 30, received a check from Moto Electronics for three months' interest on the notes purchased in transaction d. (Use a 360-day year and average of 30-day months for interest calculations. Omit the "$" sign in your response.) Date General Journal Debit Credit a. Feb. 15 Short-Term Investments-HTM 100,000 Cash 100,000 b. Mar. 22 Long-Term Investments-AFS 25,940 Cash 25,940 c. May 15 n/r 6,000 n/r n/r d. July 30 n/r 100,000 n/r n/r e. Sept. 1 n/r n/r n/r n/r f. Oct. 8 n/r n/r n/r n/r g. Oct. 30 n/r n/r
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Short term investments?0Comfort Emma2012-09-12 19:33:03
Okay so I entered a competition stock exchange simulator for this club I'm in school and I have really wanted to do well . I have until December 16, 2011 to beat the S & P 500 as much as we can. To do this , I was given $ 100,000 ( fake money of course) to trade in real time. So far I have bought shares of copper and gold, a turkey company , an entertainment company and an energy company . Although we have invested in a wide range of industries , all my purchases have been for reasons thought , I'm not buying shares in companies randomized trials. One of the main ways I've been searching for who and what I want is to invest in the recent growth , the exchange rate , and the cost of action . MedlinePlus And so , my question is , what companies are a good investment in the short term and will have the biggest gain between now and December 16 . The industry does not really matter , but it would be very helpful if you copy your claim / s with some reasoning . Also, does anyone have any advice for me ? MedlinePlus MedlinePlus So thank you very much !

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