User Account

All Pages

Prepare t-accounts for cashbalance of 20000 short-term

Assignment Help Accounting Basics
Reference no: EM13583436

During the fourth quarter of 2006, Cablevision, Inc., generated excess cash, which the company invested in securities, as follows:

On Nov. 12 purchased 1,000 shares of common stock as a trading investment, paying $9 per share.
On Dec. 14 Received cash dividend of $0.32 per share on the trading investment.
On Dec. 31 Adjusted the trading investment to its market value of $7.50 per share.

Required is the list below. ( Must Show Work )

1. Prepare T-accounts for: Cash,balance of $20,000; Short-Term Investment; Dividend Revenue; Unrealized Gain on Investment ( or Unrealized Loss on Investment )

2. Journalize the foregoing transactions and post to the T-account.

3. Show how to report the short-term investment on the cablevision balance sheet at December 31.

4. Show how to report whatever should appear on cablevision's income statement.

5. Cablevision sold the trading investment for 8,000 on Jan. 10, 2007. Journalize sale.

 

Reference no: EM13583436

Questions Cloud

The board members call you their trusted cpa to advise them : raffies kids a non-profit organization that provides aid to victims of domestic violence lowincome families and
The flask is heated to 100degc and the reaction is then : a sample of nitromethane is sealed in a 15.0-l flask with oxygen gas in the stoichiometric ratio indicated in the
Will your business be successful in holding william liable : partnership contractswally and beaver were general partners in a car dealership. using the partnership name wally
Four identical metallic objects carry the following charges : four identical metallic objects carry the following charges 1.19 6.73 -4.26 and -9.98c. the objects are brought
Prepare t-accounts for cashbalance of 20000 short-term : during the fourth quarter of 2006 cablevision inc. generated excess cash which the company invested in securities as
A 100 g sample of stream water was found to contain 5010-6 : a 1.00 g sample of stream water was found to contain 5.010-6 g lead. calculate the concentration of lead in the stream
Compare the organizations stated or apparent competitive : 1.describe in your own words and classify the organizations stated or apparent competitive strategy discerned from
A 290 x 10 2 n force is pulling an 750-kg refrigerator : a 2.90 x 10 2 n force is pulling an 75.0-kg refrigerator across a horizontal surface. the force acts at an angle of
A section of a sphere has a radius of curvature of 095 rm m : a section of a sphere has a radius of curvature of 0.95 rm m. if this section is painted with a reflective coating on

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