Prepare journal entry to record market value of investment, Accounting Basics

+44 141 628 6080
[email protected]

Prepare journal entry to record market value of investment

Detalo co. held bonds of Schooner Corp with a cost of $125,000 and a market value of $127,000. Detalo also held 1,500 shares of Tranco common stock witha cost of $25,000 and a market value of $24,700. These are classified as long-term available-for-sale securities. Prepare the journal entry to record the market value of the investment as of Dec 31.

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Prepare journal entry to record market value of investment

Reference No:- TGS056168

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : What is the major flaw in audit procedure

As one of the year-end audit procedures, the auditor instructed the client's personnel to prepare a confirmation request for a bank account that had been closed during the year. After the client's treasurer has signed the request, it was mailed by

Q : Determining the widow gross income

After Ed's death, his former employer paid Ed's widow $12,000 in "her time of need." Ed's widow also collect $25,000 on a group term insurance policy paid for by Ed's employer. What are Ed's and his widow's gross income?

Q : Process inventory and finished goods inventory accounts

The total cost allocated between the ending Work in Process Inventory and Finished Goods Inventory accounts.

Q : Expected return and beta on the portfolio

Alpha has an expected return of 13.0% and a beta of 1.50. The total value of your current portfolio is $90,000. What will the expected return and beta on the portfolio be after the purchase of the Alpha stock?

Q : Prepare journal entry to record market value of investment

Q : Affect the realizability of accounts

Events that occur after the December 31, 2013 balance sheet date (but before the balance sheet is issued) and provide additional evidence about conditions that existed at the balance sheet date and affect the realizability of accounts receivable s

Q : Prepare journal entries that summarize the sales

1. Prepare journal entries that summarize the sales and any aspects of the warranty for 2011. 2. Prepare journal entries that summarize the sales and any aspects of the warranty for 2012.

Q : Earnings management versus managing earnings

'Earnings management' or 'income smoothing' is a widely accepted practice in corporate accounting. This is the practice of advancing or delaying accruals to 'smooth out' net income.

Q : Financial statements for the period ending

The measurement period expires on July 1, 2012, at which time the fair values of the equipment and building as of the acquisition date are revised to $180,000 and $550,000, respectively. At the end of 2012, what adjustments are needed for the fina

1946756

Questions
Asked

3,689

Active Tutors

1430945

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Prepare journal entry to record market value of investment

Reference No:- TGS056168

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the major flaw in audit procedure

Q : Determining the widow gross income

Q : Process inventory and finished goods inventory accounts

Q : Expected return and beta on the portfolio

Q : Prepare journal entry to record market value of investment

Q : Affect the realizability of accounts

Q : Prepare journal entries that summarize the sales

Q : Earnings management versus managing earnings

Q : Financial statements for the period ending

Discuss statements about sociological approaches

Statement about political systems controlled by men

What when people get involved in community and social change

Discussion about idea of the tramp stamp

Review the real-life cat and mouse chase

Compare critical feminist theory and power-control theory

Problem regarding culturally relativistic

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Prepare journal entry to record market value of investment

Reference No:- TGS056168

Recent Questions Asked Accounting Basics

Q : What is the major flaw in audit procedure

Q : Determining the widow gross income

Q : Process inventory and finished goods inventory accounts

Q : Expected return and beta on the portfolio

Q : Prepare journal entry to record market value of investment

Q : Affect the realizability of accounts

Q : Prepare journal entries that summarize the sales

Q : Earnings management versus managing earnings

Q : Financial statements for the period ending

Asked Questions