User Account

All Pages

How much is the correct balance of the permanent investment

Assignment Help Accounting Basics
Reference no: EM132800851

Question - The ledger account for the long term investments of Fresh Company showed a balance of Php 155,000 as of December 31, 2017. An analysis of the account showed the following details:

Common treasury stock Bacolod Airport Co., 200 shares bought at Php 100 per share Php 20,000

Common stock of Asean Co., a 90% subsidiary 20,000 100 SMC bonds (par value 1,000) bought on May 1, 2015, Retireable on May 1, 2027, interest at 18% payable Semi-annually on May 1 and November 1 of each year.

The company holds this security for the income to be Derived therefrom. Purchase price, Php 115 115,000

Required - How much is the correct balance of the permanent investment account as at December 31, 2017?

Reference no: EM132800851

Questions Cloud

In what ways could your schools curriculum be improved : Discuss specific ways in which your school's (or one with which you are familiar or would like to work) curriculum meets the curriculum design standards.
Explain the development of a synthesis of research findings : Explain the development of a synthesis of research findings in response to a problem in professional practice. Think of the following questions as you formulate
How much does the firm have in net fixed assets : Current liabilities are $700, sales are $4,440, the profit margin is 9.5 percent, and the return on equity is 19.5 percent. How much does the firm have
How has the instructional condition changed over time : Locate Web resources to assist you in answering questions on your chosen instructional condition and share the resources in APA format here.
How much is the correct balance of the permanent investment : The company holds this security for the income to be Derived therefrom. How much is the correct balance of the permanent investment account as at December
ISYS3375 Business Analytics Assignment : ISYS3375 Business Analytics Assignment Help and Solution, RMIT University - Assessment Writing Service - Create a spreadsheet which shows Matthew the balance
How will you address diverse needs in your classroom : How will you address diverse needs in your classroom? How will you ensure that students feel accepted and valued in their classroom?
Compute the direct materials price variance : Genus Company uses a standard cost system for its single product. Compute the Direct materials price variance
Analyze the basic principles of learning theories : Analyze the basic principles of learning theories. Develop a customized theory of learning specific to the students given environment.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the effective rate of interest

A credit card company quotes a nominal APR (annual percentage rate) of interest of 15%. Calculate the effective rate of interest

  Compute the required sales in dollars to break even

Turgo Corp. had total variable costs of $180,120, total fixed costs of $168,000, and total revenues of $300,200. Compute required sales in dollars to break even

  Prepare partial balance sheet

Complete the information required below to prepare partial balance sheet for 2018 and 2019 showing any items related to the contract

  What is the investment net present value

Robert Huft retires in 6 years. He would have to purchase equipment costing $590,000 to equip the outlet. What is the investment's net present value

  Determine the proceeds of the note

On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note, Determine the proceeds of the note, assuming note carries an interest rate 10%

  Prepared a company check to replenish the fund

Prepared a company check to replenish the fund for the following expenditures made since

  What does the future hold for gai software

Have additional types of software been identified and/or developed? What does the future hold for GAI software

  What amount should loft include in inventory at year-end

What amount should Loft include in inventory at year-end, if it uses the total of the inventory to apply the lower of cost or market

  Determine Rex basis in the business portion

On July 1, 2015, Rex purchases a new automobile for $40,000. Determine Rex's basis in the business portion of the auto as of January 1, 2019

  Does each situation needs to be accrued as provision

Does each situation needs to be accrued as provision on December 2020? Why or why not? Support you answer in accordance with PAS 37.

  Cardinal corporation have in the assets

What basis will Cardinal Corporation have in the assets acquired from Finch Corporation?

  Calculate kellers gross margin per unit for each product

Calculate Keller's gross margin per unit for each product under the traditional costing system

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