Question: Refer to Practice 14 10 Make the adjusting journal entries for 99905
Refer to Practice 14–10. Make the adjusting journal entries for (a) and (b) and the computations for (c) and (d), assuming that the securities are accounted for using the equity method. Ignore the impact of the investee company income and dividends. The changes in value are not deemed to be “other than temporary.”
Answer to relevant QuestionsDuring Year 1, the company purchased 1,000 shares of stock for $23 per share. Near the end of Year 1, the company sold 400 shares. Make the journal entry to record the sale, assuming that the shares were sold for (1) $27 per ...Refer to Practice 14–18. Assume that the securities are classified as trading and that they were purchased for operating purposes. Compute (1) Cash flow from operating activities and (2) Cash flow from investing activities.On January 10, 2011, Delta Corporation acquired 12,000 shares of the outstanding common stock of Kennedy Company for $600,000. At the time of purchase, Kennedy Company had outstanding 48,000 shares with a book value of $2.4 ...American Steel Corp. acquired the following securities in 2011:At the beginning of 2011, American Steel had a zero balance in each of its market adjustment accounts.1. What entry or entries would be made at the end of 2011, ...Fox Company made the following transactions in the common stock of NOP Company:July 10, 2009 Purchased 10,000 shares at $45 per share.Sept. 29, 2010 Sold 2,000 shares for $51 per share.Aug. ...
Post your question