User Account

All Pages

Provide the required journal entries for Bob Ltd

Assignment Help Accounting Basics
Reference no: EM132969540

Question - On 1 July 2022 Bob Ltd acquired 100 000 shares in McTavish Ltd at a price of $10 each. There were brokerage fees of $1500. The closing market price of McTavish Ltd shares on 30 June 2023-which is the entity's financial year end-was $12.

REQUIRED -

a) Assuming that Bob Ltd has not made the election to account for its equity investments at fair value through OCI, then provide the required accounting journal entries for Bob Ltd to account for the investment in McTavish Ltd using fair value through profit or loss.

b) Provide the required journal entries for Bob Ltd to account for the investment in McTavish Ltd assuming that Bob Ltd has made the election to account for the equity investment at fair value through OCI.

Reference no: EM132969540

Questions Cloud

What is the optimal decision strategy : What is the optimal decision strategy if the investor uses the option period to learn more about the resistance from area residents before making the purchase
What amount of gain does Diego realize : Consequently, along with the real estate, the mortgage is transferred to the corporation. What amount of gain, if any, does Diego (a) realize
What are the characteristics of big data : 1.) What are the characteristics of Big Data? 2.) What protocol allows websites to communicate with one another?
Find what is the expected profit : What is the expected profit? A real estate investor has the opportunity to purchase land currently zoned residential. If the county board approves a request.
Provide the required journal entries for Bob Ltd : Provide the required journal entries for Bob Ltd to account for the investment in McTavish Ltd assuming that Bob Ltd has made the election
Determine the appropriate treatment-control measure : Determine the appropriate treatment/control measure for each risk:
What is the restaurant revitalization fund : What is the Restaurant Revitalization Fund? Who qualifies to receive funds? How must funds be used for them to turn into a grant
Find the con?dence interval for mean number of rainy days : Find the 99% con?dence interval for the mean number of rainy days each year. The data represent a sample of the number of rainy days in a country per year
Calculate the first year net income : The company also prepaid $6,750 cash for costs that will not be expensed until the next year. Calculate the first year's net income

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