User Account

All Pages

Prepare journal entries assuming financial asset is measure

Assignment Help Financial Accounting
Reference no: EM132774358

ABC Company has the following transactions relating to its Investment during the year:

  • January 5 - Acquired 16,000 shares of XYZ Company for Php 1,500,000 paying additional Php 15,000 for brokerage and another Php 5,000 for commission.
  • Received dividends from XYZ Company declared January 10 to stockholders on record of January 31, 2018 at Php 16,000

Required:

Problem a: Prepare the journal entries assuming:

1. Financial asset is measured through profit or loss

2. Financial asset is measured through other comprehensive income

Reference no: EM132774358

Questions Cloud

How a crisis created an opportunity for growth : Discuss how a crisis in your church leadership context created an opportunity for growth and improvement either personally or as an organization.
Which of the assets does not belong to the category : Assets are assets held by companies. One of the assets is intangible assets. Which of the assets does not belong to the category of intangible assets?
Explain why each person would be considered a digital native : Describe characteristics such as age, cultural and educational background, physical abilities or limitations, and prior experience of technology.
About the organization social system : Why is it important to have knowledge about the organization's social system?
Prepare journal entries assuming financial asset is measure : Prepare the journal entries assuming Financial asset is measured through other comprehensive income and Financial asset is measured through profit or loss
Critical analysis and research skills : Explain how you might apply the critical analysis and research skills you have been practicing this week to your student and professional roles.
Record the transactions in the general journal : The charter from the state of Georgia authorizes B-Wireless to issue 60,000 shares of 8%, Record the transactions in the general journal
Find what is the expected depreciation of the dollar : What is the expected depreciation of the dollar. Explain.Use UIP to solve the following question. Suppose the US interest rate is 4 percent
About the organization social system : Why is it important to have knowledge about the organization's social system?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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