Exercise 14-23 Recording securities transactions
Enter the appropriate account titles in the shaded cells in columns D and E.
Enter the appropriate amounts in the shaded cells in columns K and L.
The following accounts are used in the so
Exercise 14-26 Investment in equity securities
On January 10, 2013, Delta Corporation acquired 12,000 share of the outstanding common stock
of Kennedy Company for $600,000. At the time of the purchase, Kennedy Company had outstanding
Exercise 14-29 Amortization of a premium on a debt security
On January 10, 2013, Randy Incorporated purchased $600,000 of 20-year, 10% bonds when
the market rate was 8%. Interest is to be paid on June 30 and December 31 of each year.
Exercise 14-34 Debt and equity securities
American Steel Corp. acquired securities in 2013. At the beginning of the year, American Steel had a
zero balance in its market adjustment account.
Record the transactions listed below.
Exercise 9-26 Identification of Inventory Costs and Categories
The records of Burtone Company contain the following cost categories. Burtone manufactures
exercise equipment and iron weights. For each category, indicate whether the cos