Determine the appropriate reporting category

Assignment Help Finance Basics

Reference no: EM1349814

On February 18, 2011, Union Corporation purchased 10,000 shares of IBM common stock as a long-term investment at $60 per share. On December 31, 2011, and December 31, 2012, the market value of IBM stock is $58 and $61 per share, respectively.

Required:

1.What is the appropriate reporting category for this investment? Why?

2.Prepare the adjusting entry for December 31, 2011.

3.Prepare the adjusting entry for December 31, 2012.

Reference no: EM1349814

Questions Cloud

Question related to design conflict management systems : Question about Designing conflict management systems - Using Quadrant IV and the principles in action, apply these principles to the Penn state University coach firing.

Spectacular peacemaking success : Choose someone you would consider a great peacemaker and evaluate the specific qualities they exhibit or exhibited that led to such spectacular peacemaking success.

Information related to designing conflict management systems : Describe how you will evaluate its effectiveness and how will you create support for the new system

How to bring about socialism and that of bernstein : Illustrate what are the main differences between Lenin's theory of how to bring about socialism and that of Bernstein's

Determine the appropriate reporting category : On February 18, 2011, Union company purchased 10,000 shares of IBM common stock as a long-term investment at $60 each share.

Find coefficient of kinetic friction between child and slide : suppose you are outdoors in the Boundary Water Canoe Area of Northern Minnesota. You have in your hand the empty tube from a roll of paper towel. Outline the mathematical steps you would take to help you achieve an accurate estimate of the stars i..

Explain what factors operate in the vdot''s general : Explain What factors operate in the VDOT's general and specific/internal environment and what impact did this have on the VDOT's effectiveness

Application of attribution theory : Application of Theories/Attribution Theory is one of the hallmarks within the field of social cognition. Theories such as Heider's Naive Psychology Theory, Jones and Davis' Correspondent Inference Theory, and Kelley's Covariation Model provide sem..

Define the most closely display ideal-gas behavior : A rocket rises with constant acceleration to an altitude of 85 km, at which point its speed is 3.1km/s.what is the acceleration in m/s.

User Account

All Pages