On december 21 2012 zurich company provided you with the

Assignment Help Accounting Basics

Reference no: EM13393295

On December 21, 2012, Zurich Company provided you with the following information regarding its trading securities.

December 31, 2012
Investments (Trading)	Cost	Fair Value	Unrealized Gain (Loss)
Stargate Corp. stock	$20,320	$19,320	$(1,000	)
Carolina Co. stock	10,940	9,940	(1,000	)
Vectorman Co. stock	20,320	21,010	690
Total of portfolio	$51,580	$50,270	(1,310	)
Previous fair value adjustment balance			0
Fair value adjustment-Cr.			$(1,310	)

During 2013, Carolina Company stock was sold for $10,490. The fair value of the stock on December 31, 2013, was: Stargate Corp. stock-$19,600; Vectorman Co. stock-$20,830

Prepare the adjusting journal entry needed on December 31, 2012.
Prepare the journal entry to record the sale of the Carolina Company stock during 2013.
Prepare the adjusting journal entry needed on December 31, 2013.

Reference no: EM13393295

Questions Cloud

Calculate price elasticity of demand for subway rides if : the subway fare in your town has just been increased from a current level of 50 cent to 1.00 per ride. as a result the

Have you ever worked in a company that utilized activity : have you ever worked in a company that utilized activity based costing standard costing a just-in-time operating

Product positioning strategy choose a positioning strategy : part 1 deliverable length 1200ndash1500 wordssometimes brands need to be repositioned in the marketplace for a variety

The firm daily sales of these sundaes have increase from 1 : the olde yogurt factory has reduced the price of its popular mmmm sundae from 2.25 to 1.75. as a result the firm daily

On december 21 2012 zurich company provided you with the : on december 21 2012 zurich company provided you with the following information regarding its trading

Give a definition in your own terms of frequently used : the ceo expects you to be providing a number of various logistics reports and recommendations to her. she has asked you

Describe how government intervened and what their rationale : background information about the case study why the forces of supply and demand did not result in efficient operations

Government is involved in every part of the financial : 1. idiosyncratic risk is common to everyone.represented by beta.specific to a particular business.due to changes in the

Using demographical and epidemiological data available : the pediatric community care center has decided to expand its operation by opening a small pediatric satellite clinic

User Account

All Pages