User Account

All Pages

Chart the entries to acquire the investment on february

Assignment Help Accounting Basics
Reference no: EM132193241

Question - The investments of Charger Inc. include a single investment: 11,000 shares of Raiders Inc. common stock purchased on February 24, Year 1, for $37 per share including brokerage commission. These shares were classified as trading securities. As of the December 31, Year 1, balance sheet date, the share price had increased to $45 per share.

Required:

A. Chart the entries to acquire the investment on February 24, and record the adjustment to fair value on December 31, Year 1. Refer to the Chart of Accounts for exact wording of account titles.

B. How is the unrealized gain or loss for trading investments reported on the financial statements?

The unrealized gain or unrealized loss for trading investments is disclosed in the (or a separate item if significant). In determining net income, unrealized losses and gains would be in determining net income.

Reference no: EM132193241

Questions Cloud

Calculate the amount paid for goodwill : Wolfson Corporation acquired all of the outstanding common stock of Barney Corporation for $18,000,000 in cash. Calculate the amount paid for goodwill
Different types of retailers for your pricing comparisons : Choose 3 different types of retailers for your pricing comparisons.
Describe at least three different platforms you could use : Describe at least three different platforms you could use, along with why you would use it, and how you would use it for each of the three.
The job of business managers : Maximizing long term shareholder value is one of the objectives many businesses have in determining their growth and success.
Chart the entries to acquire the investment on february : Chart the entries to acquire the investment on February 24, and record the adjustment to fair value on December 31, Year 1
Write down description of the social problem : In addition to a minimum of six scholarly references, which may include electronic government documents and reputable websites, your paper should include.
Calculate the accounting rate of return : Barnes Company purchases a machine for $500,000. The company anticipates a yearly after-tax net income of $30,000. Calculate the accounting rate of return
Which sells men clothing and accessories to retail stores : SavvyDude, the men’s clothing wholesaler in Northeast Ohio which sells men’s clothing and accessories to retail stores.
Explain common stressors and related health issues : Explain common stressors and related health issues for this population. Select and empirically support three stress management strategies.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd