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1.On February 18, 2013, Union Corporation purchased 10,000 shares of IBM common stock as a long term investment at $60 per share. On December 31, 2013, and December 31, 2014, the market value of IBM stock is $58 and $61 per share, respectively.Required:1. What is the appropriate reporting category for this investment? Why?2. Prepare the adjusting entry for December 31, 2013.3. Prepare the adjusting entry for December 31, 2014.
Prepare a classified statement of financial performance for 2012 and 2013 - prepare a classified statement of financial position for 2012 and 2013
The $300,000 loan was made to Brad in late 2007, and he used the money to create a very successful business. The note was forgiven by Kenneth in his will. What are the estate tax consequences of these transactions?
Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Spor..
a company budgeted unit sales of 204000 units for january 2012 and 240000 for february 2012. the company has a policy
Prepare the operating activities section of the statement of cash flows using the indirect method.
You've been nominated by your institution for the seminar because of your proficiency in basic accounting concepts. The participants and audience comprise college professors, practicing CPAs, and fellow students.
a company purchases 23000 of supplies in the current month and promises to pay for them next month. how would the
please these one cant figure out how to prepare journal entries for these please help me.
a firm produces perishable food at the cost of 25 per case and in batches of 100 cases. it sells the product to a
write a memo to the company controller describing the differences between the percentage of completion method and the
STL Entertainment is considering the acquisition of a sight-seeing boat for summer tours along the Mississippi River. The following information is available:
Polo Ralph Lauren Corporation designs, markets, and distributesa variety of apparel, home décor, accessory, and fragranceproducts. The company's products include such brands asPolo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren PoloJ..
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