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Alpha Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2017, Alpha Company acquired the following trading securities: Date Company # of Shares Price per Share 15-Aug Yankee Company 1,500 $50 25-Sep X-ray Company 1,250 30 30-Sep Zulu Company 1,000 26 On November 10th, Alpha Company sold the X-ray Company stock for $31 per share. On December 15th, Zulu Company paid dividends of $0.12 per share. The following were the year-end market values: Company FMV per Share Yankee Company $60 X-ray Company 15 Zulu Company 20 What the total dollar values that Alpha Company should record for the following: (Enter whole dollars only, for loss amounts enter the $ & value inside of the brackets.)
1. Realized Gain/Loss during 2017
2. Unrealized Gain/Loss on Trading Securities for 2017
3. Dividend Income
some accountants have said that politicization in the development and acceptance of generally accepted accounting
What effect would this have on the firm's output. Finally, suppose that MCL =$20 and P=$50 but that labor productivity (output per labor hour) is expected to increase by 25%over the next 5 years. What effect would this have on the firm's optimal ..
In 2015, Mitchell actually produced 5,000 units of product. Mitchell spent $497,250 on 25,500 pounds of DM (all of these materials were requisitioned by the production department in 2015). Mitchell spent $194,750 on 9,500 DL hours. Mitchell spent $19..
Mike Smith is a college football coach making a base salary of $840,000 a year ($70,000 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assuming the Socia..
Journal Entries for Merchandising Activities: Sales and Purchases Register for QuickBooks Online Simple Start 2015:
Why do the LIFO and average cost inventory cost flow assumptions result in different inventory numbers for the perpetual and periodic inventory methods?
Kimm Company has gathered the information shown below about its product. Direct materials. Each unit of product contains 3.10 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.70 pounds. Compute Kimm’s..
On January 1, 2014 the Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $42,500 and $625, respectively. The amount of uncollectible accounts expense recognized in the 2014 income statement will be.
Compute the expected ROI in 2013 with the following independent changes to actual data. Variable cost of goods sold is decreased by 6%. Average operating assets are decreased by 10%. Sales are increased by $200,000, and this increase is expected to i..
Perspectives for Keiretsus could be: from the point of view of the Japanese economy, benefits and risks, from the perspective of the companies, from the perspectives of the employees, etc. Be creative, don't take the easy path.
At an activity level of 8,800 units, Pember Corporation's total variable cost is $146,520 and its total fixed cost is $219,296. For the activity level of 8,900 units, compute the following values. (a) The total variable cost; (b) the total cost; (c) ..
What is the least number of calories possible in a package. How much should be invested in each to maximize annual interest? What is the maximum annual interest?
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