Erica Pike is the controller of D-Products, Inc. At December 31, the company’s investments in trading securities cost $74,000 and have a fair value of $70,000. Indicate how Erica would report these data in the financial statements prepared on December 31.
Answer to relevant QuestionsNapa Company’s investments in available-for-sale securities at December 31 show total cost of $202,000 and total fair value of $210,000. Prepare the adjusting entry.Bass Company owns 25% of Petit Company. For the current year, Petit reports net income of $150,000 and declares and pays a $60,000 cash dividend. Record Bass’s equity in Petit’s net income and the receipt of dividends ...These are two independent situations: 1. Eusey Cosmetics acquired 12% of the 300,000 shares of common stock of High Fashion at a total cost of $14 per share on March 18, 2014. On June 30, High declared and paid a $75,000 ...The following data, presented in alphabetical order, are taken from the records of Wellman Corporation.Accounts payable.........................$ 150,000Accounts receivable..........................90,000Accumulated ...Dipoto Company’s balance sheet shows Inventory $162,800. What additional disclosures should be made?
Post your question