Reference no: EM131691074
Question - Altruistic Company has an outstanding financial performance year, which generates excess cash of $2,000,000, which it chooses to purchase the following financial instruments on January 2, 2016:
(a) 5,000 shares of WF Enterprises with a market price of $28 per share; there are a total of 20,000 outstanding shares of WF Enterprises at the time of acquisition. This investment is categorized as trading. On December 31, 2016 the market price of WF Enterprises is $35 per share and net income of $80,000 for the year ended 12/31/2016 was announced. On February 15, 2017 a dividend of $3 per share was declared which was paid on March 15th. The market price as of 3/31/2017 is $38 per share.
(b) 7500 shares of Expediant Software with a market price of $16 per share; there are a total of $42,000 outstanding shares of Expediant Software at the time of acquisition. This investment is categorized as Available for sale. On December 31, 2016 the market price of Expediant Software is $14 per share and net income of $126,000 for the year ended 12/31/2016 was announced. On February 15, 2017 a dividend of $2 per share was declared which was paid on March 15th. The market price as of 3/31/2017 is $19 per share. Required:
A. Identify the journal entries required (i) 1/2/2016, (ii) 12/31/2016, and (iii) 3/15/2017 for:
a. The investment in WF Enterprises
b. The investment in Expediant Software
B. Identify the carrying value for each investment as of March 31, 2017
|
Design solid circular steel shaft to transmit applied torque
: Calculate the allowable torque that may be applied to a 5-in.- diameter solid circular steel shaft if the allowable shear stress is 10,000 psi.
|
|
State a conflict that you see present in mistaken identity
: State a conflict that you see present in Mistaken Identity: A Ten Minute Play Respond to the following, providing examples or quotations
|
|
Discuss core values to reflect key attributes of culture
: Imagine you are a consultant for an organization, and they would like you to work on developing their core values.
|
|
Explain what recommendations would make for management team
: Based upon your research and this SWOT analysis. Explain what recommendations would you make for the management team?
|
|
Identify the journal entries
: Identify the journal entries required (i) 1/2/2016, (ii) 12/31/2016, and (iii) 3/15/2017 for: The investment in WF Enterprises
|
|
Discuss what are the personal and societal obstacles
: What are the personal and societal obstacles to using "straight talk," and how might they be overcome
|
|
Calculate the modulus of rigidity g
: A 1-in.-diameter solid steel shaft, 60 in. long, was tested in a large torsion machine. An angle of twist of 5° was measured when the shaft was subjected.
|
|
What should be the basis of the hr departments goals
: What should be the basis of the HR department's goals regarding their responsibilities to support management during the screening, hiring, and retention stages.
|
|
Discuss express ones feelings rather than ones judgments
: Explain a situation in which you heard it said or someone said to you something that started a conflict or became a confrontation
|