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Problem VII - Debt and Stock Investments Cam Inc- has decided to inves.pdf

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Cam Inc. invested excess cash in short-term equity and debt securities in 2021, purchasing bonds and common stock. The company recorded transactions including bond purchases, interest received, dividend income, and the sale of the bonds at a profit. By year-end, Cay Company stock was valued at $21 per share, and the company reported a net income of $164,000.

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Problem VII - Debt and Stock Investments Cam Inc, has decided to invest its access cash in some short-term equity and debt securities. The company incurred the following transactions during 2021. Jan. 14 Purehased 20 , 11% , $1 , 000 Tre Corp. bonds for $20 , 000 . The bonds pay interest semiannually on July 1 and January 1. Apr. 25 Purchased 4,200 shares of Cay Company common stock for $94 , 500 . July: 1 Interest on the $20 , 000 bonds is received. Aug 1 Received a $1 per share dividend on Cay Company common stock. Nov. 30 Sold all of the Tre Corp. bonds for $23 , 200 . Dec. 31 Cay Company common stock is trading for $21 per share. Cay Company earned $164 , 000 of net income this year. Instructions: Journalize the transactions for Cam Ine.

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Problem VII - Debt and Stock Investments Cam Inc- has decided to inves.pdf

  • 1. Problem VII - Debt and Stock Investments Cam Inc, has decided to invest its access cash in some short-term equity and debt securities. The company incurred the following transactions during 2021. Jan. 14 Purehased 20 , 11% , $1 , 000 Tre Corp. bonds for $20 , 000 . The bonds pay interest semiannually on July 1 and January 1. Apr. 25 Purchased 4,200 shares of Cay Company common stock for $94 , 500 . July: 1 Interest on the $20 , 000 bonds is received. Aug 1 Received a $1 per share dividend on Cay Company common stock. Nov. 30 Sold all of the Tre Corp. bonds for $23 , 200 . Dec. 31 Cay Company common stock is trading for $21 per share. Cay Company earned $164 , 000 of net income this year. Instructions: Journalize the transactions for Cam Ine.