Reference no: EM131255181
Information regarding Stone Co.'s portfolio of marketable equity securities is as follows:
Aggregate cost as of 12/31/X2 $170,000
Unrealized gains as of 12/31/X2 $4,000
Unrealized losses as of 12/31/X2 $26,000
Net realized gains during 20X2 $30,000 At December 31, 20X1,
Stone reported an allowance of $1,500 to reduce investments to market. In its December 31, 20X2, balance sheet, what amount of allowance should Stone report? a. $26,000 b. $22,000 c. $0 d. $20,500.
|
Calculated parametric estimate and analogous cost estimate
: Given the following information, calculate the bottom-up estimated costs for a wedding with 250 guests and a bridal party of six, using the methods indicated. If you had calculated Parametric estimate and Analogous cost estimate, would there have bee..
|
|
Calculated parametric estimate and analogous cost estimate
: Given the following information, calculate the bottom-up estimated costs for a wedding with 250 guests and a bridal party of six, using the methods indicated. If you had calculated Parametric estimate and Analogous cost estimate, would there have bee..
|
|
What amount of revenue should acme recognize from this sale
: On October 1, 20X1, Acme Fuel Co. sold 100,000 gallons of heating oil to Karn Co. at $3 per gallon. Fifty thousand gallons were delivered on December 15, 20X1, and the remaining 50,000 gallons were delivered on January 15, 20X2. Payment terms were: 5..
|
|
Compute maxims realized gain on the sale of the land
: In year 1, Maxim sold investment land with a tax basis of $77,000. Payment consisted of $10,000 cash down and the purchaser's note for $90,000. The note is payable in equal installments of $45,000 in years 2 and 3. Compute Maxim's realized gain on th..
|
|
What amount of allowance should stone report
: Information regarding Stone Co.'s portfolio of marketable equity securities is as follows: Stone reported an allowance of $1,500 to reduce investments to market. In its December 31, 20X2, balance sheet, what amount of allowance should Stone report?
|
|
Uses the direct method to prepare statement of cash flows
: Flax Corp. uses the direct method to prepare its statement of cash flows. Flax allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. What amounts should Flax report in its statem..
|
|
Evaluate the appropriateness of bretts plan
: Brett started a new construction business in August 2015. In connection with the new business, he purchased a new backhoe for $70,000 in September of 2015. The new businessis struggling and expecting to show a loss for 2015. Brett has been awarded a ..
|
|
Evaluate the appropriateness of bretts plan
: Brett started a new construction business in April 2016. In connection with the new business, he purchased a new backhoe for $60,000 in June 2016. The new business is struggling and expecting to show a loss for 2016. Evaluate the appropriateness of B..
|
|
Prepare journal entry to record admission to the partnership
: the partnership profit sharing ratio 3:2:5 a new partner, Harish enters the patnership bu purchasing existing interest in the partnership prepare the journal entry to record Harish's admission to the partnership, and compute the new capital balances,..
|