User Account

All Pages

Prepare the journal entries for splish for investment

Assignment Help Accounting Basics
Reference no: EM131986279

Question - On August 15, 2016, Splish Co. invested idle cash by purchasing a call option on Counting Crows Inc. common shares for $432. The notional value of the call option is 480 shares, and the option price is $48. The option expires on January 31, 2017. The following data are available with respect to the call option.

Date Market Price of Counting Time Value of Call

Crows Shares Option

September 30, 2016 $58 per share $216

December 31, 2016 $55 per share 78

January 15, 2017 $56 per share 36

Prepare the journal entries for Splish for the following dates.

(a) Investment in call option on Counting Crows shares on August 15, 2016.

(b) September 30, 2016-Splish prepares financial statements.

(c) December 31, 2016-Splish prepares financial statements.

(d) January 15, 2017-Splish settles the call option on the Counting Crows shares.

Reference no: EM131986279

Questions Cloud

Insourcing versus outsourcing your it needs : Evaluate the strengths and weaknesses of insourcing versus outsourcing your IT needs, and make a final recommendation based on that evaluation.
Contribute to final claim reimbursement amount : Discuss the factors that combine to contribute to final claim reimbursement amount.
Research one major criminal justice system : Compare and contrast the system to the American criminal justice system from the following perspectives.
Calculate the discount date and the net date : calculate the discount date and the net date for the following transactions. Unless otherwise specified, the net date is 20 days after the discount date
Prepare the journal entries for splish for investment : Prepare the journal entries for Splish for the following dates. Investment in call option on Counting Crows shares on August 15, 2016
Make a mips program that deal the cards face down : Make a MIPS Assembly Language program that Deal the cards face down. Create a map structure to map mouse click co-ordinates to cards.
Do you understand the results : What recommendations do you have for presenting the results of this research so that a police executive could use them?
How to make lcd display into a vu meter that senses channel : How to Make the LCD display into a VU meter that senses the analog channel 0? Have it respond in real time to the analog input?
Determine the new number of shares outstanding : Determine the new number of shares outstanding in SMO has a five-for-three stock split and SMO has a 42.5 percent stock dividend

Reviews

Write a Review

Accounting Basics Questions & Answers

  Products alpha and beta are joint products the joint

products alpha and beta are joint products. the joint production cost of the products is 800. alpha has a market value

  How would net realized gain losses impact companys

How would net realized gain ( losses) impact companys staements of income and cash flows

  The bank also requires you to maintain a compensating

a bank offers your firm a revolving credit arrangement for up to 68 million at an interest rate of 1.41 percent per

  How much cash should x company show on october

According to the bank statement, the cash balance was $10,000. How much cash should X company show on October 31 balance sheet

  Estimate of budgeted production costs in the coming month

Circuit Boards R Us (CBRU) uses regression analysis to estimate the monthly cost of producing circuit boards

  Calculate the interest revenue weighted average accumulated

Calculate the interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized during 2010. Round all computations to the nearest dollar

  Explain how accounts are listed in the trial balance

Explain how accounts are listed in the trial balance and the importance of the trial balance in preparing financial statements

  Determine the direct labor cost for january

The following information is available for Castle Company for the month of January 2010. Determine the direct labor cost for January 2010.

  Cost of equity dcf

Cost of Equity: DCF, Summerdale Resort’s common stock is currently trading at $36 a share. The stock is expected to pay a dividend of $3.00 a share at the end of the year (D1 =$3.00), and the dividend is expected to grow at a constant rate of 5% a ye..

  Assuming that the building is razed at a cost of 11000 so

dorsey co. has expanded its operations by purchasing a parcel of land with a building on it from bibb co. for 96000.

  Total value that chase corp should use to record warrants

The stock warrants will expire on December 31, 2008. Select the total value that Chase Corp should use to record the detachable warrants issued on March 1, 2006.

  What was the materials cost of work in process on october

What was the materials cost of work in process on October 31, Lucas Company uses the weighted average method in its process costing system

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