User Account

All Pages

Prepare the adjusting entry

Assignment Help Accounting Basics
Reference no: EM131788356

Question - The following information is available for Kinney Company at December 31, 2012, regarding its investments:

3000 shares of Petty Corporation Common Stock ; cost = $40,000 , fair value = $46,000. 1,000 shares of Dowe Incorporated preferred stock ; Cost = $25,000 , fair value = $22,000.

Instructions:

(a) Prepare the adjusting entry (if any) for 2012, assuming all securities are classified as trading.

(b) Prepare the adjusting entry (if any) for 2012, assuming the securities are classified as available-for-sale.

(c) Discuss how the amounts reported in the financial statements are affected by the entries in (a) and (b).

Reference no: EM131788356

Questions Cloud

Entered from the keyboard : Fill the anonymous array of Exercise 1 with n input values, entered from the keyboard.
Compute and display the average of the values : For write C++ statements to do what is asked. Compute and display the average of the values in the anonymous array of Exercise 1.
Computing the coupon rate : The Gorden Corporation has a bond outstanding with $85 annual interest payments, a market price of $860, and a maturity date in seven years.
Storage of the anonymous array of exercise : For write C++ statements to do what is asked. Deal locates the storage of the anonymous array of Exercise 1.
Prepare the adjusting entry : Prepare the adjusting entry (if any) for 2012, assuming all securities are classified as trading. Prepare the adjusting entry (if any) for 2012
Interpret the intercept : From the graph, is the correlation between teachers' average pay and the expenditure per pupil positive or negative?
Analyzing the refunding decision of given problem : The Hudson Corporation has a $15 million bond obligation outstanding which it is considering refunding. Though the bonds were initially issued at 9 percent.
Compute taxable income and income taxes payable : Havaci Company reports pretax financial income of $80,000 for 2012. Compute taxable income and income taxes payable for 2012
Describe in detail the experiences of the caddo indians : Describe in detail the experiences of the Caddo Indians with the European competitors with a clear description of the Indian removal policy that was used.

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