Chapter 1 Problem 12-2
Bonds held as trading
2008
April 1 Trading securities 2,200,000
Cash 2,200,000
Oct. 1 Cash (2,000,000 x 12% x 6/12) 120,000
Interest income 120,000
Dec. 31 Accrued interest receivable 60,000
Interest income (2,000,000 x 12% x 3/12) 60,000
31 Trading securities 100,000
Unrealized gain – TS 100,000
2009
Jan. 1 Interest income 60,000
Accrued interest receivable 60,000
April 1 Cash 120,000
Interest income 120,000
Oct. 1 Cash 120,000
Interest income 120,000
Dec. 31 Accrued interest receivable 60,000
Interest income 60,000
31 Unrealized loss – TS 340,000
Trading securities (2,300,000 – 1,960,000) 340,000
Bonds held to maturity
2008
April 1 Held to maturity securities 2,200,000
Cash 2,200,000
Oct. 1 Cash 120,000
Interest income 120,000
2008
Dec. 31 Accrued interest receivable 60,000
Interest income 60,000
31 Interest income (50,000 x 9/12) 37,500
Held to maturity securities 37,500
2009
Jan. 1 Interest income 60,000
Accrued interest receivable 60,000
April 1 Cash 120,000
Interest income 120,000
Oct. 1 Cash 120,000
Interest income 120,000
Dec. 31 Accrued interest receivable 60,000
Interest income 60,000
31 Interest income (200,000/4) 50,000
Held to maturity securities 50,000
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