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
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 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 14-26 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 14-23 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