Prescrip Co. began operations in 2014. The cost and fair values for its long-term investments portfolio in available-for-sale securities are shown below. Prepare Prescrip’s December 31, 2015, adjusting entry to reflect any necessary fair value adjustment for these investments.
Answer to relevant QuestionsTicker Services began operations in 2013 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 ...Selk Steel Co., which began operations on January 4, 2015, had the following subsequent transactions and events in its long-term investments. 2015 Jan. 5 Selk purchased 60,000 shares (20% of total) of Kildaire’s common ...Refer to Apple’s financial statements in Appendix A to answer the following. 1. Are its financial statements consolidated? How can you tell? 2. What is the amount of comprehensive income for the year ended September 28, ...Refer to Apple’s statement of cash flows in Appendix A. (a) Which method is used to compute its net cash provided by operating activities? (b) Its balance sheet shows an increase in accounts (trade) receivable from ...Refer to the balance sheet data above from Anders Company. During 2015, a building with a book value of $70,000 and an original cost of $300,000 was sold at a gain of $60,000. a. How much cash did Anders receive from the ...
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