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Uttinger Company has the following data at December 31, 2015.
The available-for-sale securities are held as a long-term investment.
Instructions
a) Prepare the adjusting entries to report each class of securities at fair value.
b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts.
During the year, accounts receivable increased by $ 4,000, inventory decreased by $ 6,000, accounts payable increased by $ 3,000, and accrued expenses payable decreased by $ 2,000. Reconcile the amount of net income to the amount of cash provided ..
Compute the total amount of depletion for 2014. Compute the amount that is charged as an expense for the cost of the minerals sold.
Ring Company allocates the net cost of the company cafeteria to production departments using the direct method based on the number of employees in each department. What amounts will be allocated to the packaging department?
Calin Corporation has total current assets of $615,000, total current liabilities of $230,000, total stockholders' equity of $1,183,000, total net plant and equipment of $958,000, total assets of $1,573,000, and total liabilities of $390,000. The com..
Cash sales and credit sales represent 25% and 75% respectively of total sales. Of the credit sales, 60% is collected in the first month after the month of sales and 40% in the second month after the month of sale.
Arroyo Corporation has 100,000 shares of $60 par common stock outstanding. On February 8, Arroyo Corporation declared a 6% stock dividend to be issued April 11 to stockholders of record on March 10.
Glenda Corporation has the following assets at year end:
Calculate the cost of goods available for sale and the units available for sale for this four-week period.
In 2013, the internal auditors of Development Technologies, Inc., discovered that (a) 2012 accrued wages of $2 million were not recognized until they were paid in 2013 and (b) A $3 million purchase of merchandise in 2013 was recorded in 2012 instead...
How well reported net income of $100,000 in 2010 and $120,000 in 2011 while paying $40,000 in dividends each year. Compute the amount of unrealized intra-entity inventory profit to be deferred on December 31, 2010 and 2011?
Alabama Alarm Co. issued $4,000,000 of 7 year, 12% bonds with interest payable semiannually at an effective interest rate of 10%. Use the tables in Appendix A to determine the present value of the bonds payable. Round to the nearest dollar.
Prepare the journal entries to record tax collections and remittances for the Kirby County Tax Agency Fund and what percentage interest in the pool is held by the town and the school district
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