Patica Co. began operations in 2010. The cost and fair values for its long-term investments portfolio in available-for-sale securities are shown below. Prepare Patica’s December 31, 2011, adjusting entry to reflect any necessary fair value adjustment for these investments.
Answer to relevant QuestionsRefer to GOME’s financial statements in Appendix A. Compute its debt ratio as of December 31, 2008, and December 31, 2007. Basil Services began operations in 2007 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow. Prepare journal entries to record ...On May 8, 2009, Jett Company (a U.S. company) made a credit sale to Munoz (a Mexican company). The terms of the sale required Munoz to pay 850,000 pesos on February 10, 2010. Jett prepares quarterly financial statements on ...Harter Company, which began operations in 2009, invests its idle cash in trading securities. The following transactions relate to its short-term investments in its trading securities. 2009 Mar. 10 Purchased 900 shares of ...Key figures for Best Buy and RadioShack follow. Required 1. Compute return on total assets for Best Buy and RadioShack for the two most recent years. 2. Separate the return on total assets computed in part 1 into its ...
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