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ACC 545 Week 3: Jamona Corporation

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ACC 545 Week 3: Jamona Corporation
Ada M. Tickle
Week 3 ACC/545
Jamona Corporation

Scenario 1
Journal Entries
Dates Accounts Debit Credit
1 Jan 2006 Available for sale securities 322,744.44 Cash 322,744.44
31 Dec 2006 Cash 36,000 Available for sale securities 3,725.56 Interest Revenue ($3222.744.44 X .10) 32,274.44 31 Dec 2006 Securities Fair Value Adjustment (available for sale) 1,481.12 Unrealized Holding Gain or Loss Equity (320,500.00 – 319,018.88) 1,481.12
31 Dec 2007 Unrealized Holding Gain or Loss- Equity 7,401.89 Securities Fair Value Adjustment (Available for Sale) 7,401.89

Note Disclosures Unrealized Amortized Holding Gain
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