Journal entry for Jamona Corp - final

Journal entry for Jamona Corp - final - 1) Journal entry...

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1) Journal entry for Investments 1/ 1/06 Investment in Bonds- Available for Sale 322,744.44 Cash 322,744.44 Purchased Bonds for cash – Available for Sale 12/31/07 Cash 36,000 Interest Revenue 36,000 Received interest on investment in bonds 12/ 31/07 Interest Revenue 4,098.11 Investment in Bonds- Available for Sale 4,098.11 Amortization of bond premium 12/ 31/07 Unrealized Holding Gain or Loss-Equity 5,920.77 Securities Fair Value Adjustment (Available for Sale) 5,920.77 Adjust investment in bonds (AFS) to fair market value Bond Amortization Table Date Interest Payment Effective Interest Amortization Bond Carrying Amt 12/31/06 36,000 32,274.44 3,725.56 319,018.88 12/31/07 36,000 31,901.89 4,098.11 314,920.77 12/31/08 36,000 31,492.08 4,507.92 310,412.85 12/31/09 36,000 31,041.29 4,958.71 305,454.14 12/31/10 36,000 30,545.41 *5,454.14 300,000.00 Note: The fair values and unrealized holding gains and losses of equity securities were as follows: December 31, 2007 Gross Unrealized Available-for-Sale
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Journal entry for Jamona Corp - final - 1) Journal entry...

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