Reference no: EM131942199
Question - At December 31, 2014, the available for sale equity portfolio for Zorro Foods corp. is as follows: apple cost: 33,600 & fair value: 31,000.
Banana cost: 175,000 & fair value: 174,000
Crisp cost: 59,400 & fair value: 68,500
December 31, 2013, securities fair value adjustments balance-Dr. 5,400
On January 20, 2015, zorro sold apple for $31,100. The sale proceeds are net of brokerage fees.
a. Prepare the adjusting entry at Dec. 31, 2014 to report the portfolio at fair value
b. Show the balance sheet presentation of the investment related accounts at Dec 31, 2014.
c. Prepare the journal entry for the 2015 sale of apple.
Prepare a report about the nature tourism in costa rica
: You are advising a new tour company that is interested in setting up an itinerary for nature tourists in Costa Rica.
|
What will be baldwin book value
: If next year, assets decrease by $4,000,000 and liabilities increase by $2,000,000, what will be Baldwin's book value
|
Determine the new value of controller gain
: INSTRUMENTATION AND CONTROL PRINCIPLES - Explain the meaning of the terms ‘choked flow' in relation the flow of gas through a valve. Explain also how choked
|
What is the market risk premium
: If the expected return on the market is 14 percent and the risk-free rate is 4 percent,
|
Prepare the adjusting entry at december
: December 31, 2013, securities fair value adjustments balance-Dr. 5,400. Prepare the adjusting entry at Dec. 31, 2014 to report the portfolio at fair value
|
Assume that machine a can continually be replaced
: Assume that Machine A can continually be replaced at the end of its useful life with an identical replacement. Neither machine has any salvage value.
|
Summarizes the policy problem
: Case analyses should demonstrate excellent understanding of the case study along with accurate application of appropriate frameworks.
|
Identify and discuss the reliability of types of evidence
: Identify and discuss the reliability of the types of evidence an auditor would need to determine whether each condition cited above was met for a bill
|
What is the present worth of the entertainment complex
: Assume the annual revenue and costs will remain the same under these conditions for an infinite amount of time. What is the present worth of the entertainment
|