User Account

All Pages

Make the journal entries for Vancouver Inc

Assignment Help Accounting Basics
Reference no: EM133057660

Question - On January 23, 2021, Vancouver Inc. purchased 4,300 common shares of Halifax Corporation at a price of $28 each. On May 7, 2021, Vancouver Inc. received a dividend of $2.35 per share on its investment in Halifax Corporation.

On Vancouver Inc.'s year end date of October 31, 2021, the common shares in Halifax Corporation were trading at $33 each.

On February 26, 2022, Vancouver Inc. sold 25% of its shares in Halifax Corporation at $35 per share.

Vancouver Inc. pays a 1% commission on all purchases and sales of securities.

Vancouver Inc. uses the fair value through net income (FV-NI) method to account for its investment in Halifax Corporation

Make the journal entries for Vancouver Inc. for each of the above transactions, including any applicable year end adjusting entries.

Reference no: EM133057660

Questions Cloud

Identify a profitable investment or course of action : Which is a fallacy of solely using the capital budgeting process to identify a profitable investment or course of action?
Calculate the dollar cost of using money market hedge : Use the following information to calculate the dollar cost of using money market hedge for a £200,000 payable due in 1year by ABC company of USA
Compute the forward price : Suppose that on February 15, 1994 a firm wants to enter into a forward contract to purchase 5-year Treasuries, with coupon rate 8%, in two years
Key characteristics of the income or speculative property : Assume Louise has inherited a large sum of money and wish to use it to make a real estate investment. She is a working professional in her late 30s.
Make the journal entries for Vancouver Inc : Make the journal entries for Vancouver Inc. for each of the above transactions, including any applicable year end adjusting entries
Explain the incremental free cash flows : Daily Enterprises is purchasing a $10.0 million machine. It will cost $50,000 to transport and install the machine. The machine has a depreciable life of five y
Exchange rate fluctuations in the pound sterling : Explain how the company can attempt to reduce its economic exposure to exchange rate fluctuations in the pound sterling.
Why most investors hold diversified portfolios : 1)Diversification is the key to effective risk management. Explain why most investors hold diversified portfolios.
Calculating the fixed rate of interest : American X wishes to borrow U.S. dollars at a fixed rate of interest. Corporation Y wishes to borrow Japanese Yen at a fixed rate of interest.

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