User Account

All Pages

What is the amount reported as the ending balance

Assignment Help Accounting Basics
Reference no: EM133159256

Question - Muffin Co. has a December 31 year-end. It used some of its excess cash to buy temporary Investments. The following transactions relating to these investments occurred this year:

Jan 15th - Bought 2,145 shares of IBM @ $120

March 1st - Bought $15,180 of GMC 6% bonds @ par

March 20 - IBM declares a $5/share dividend payable March 31.

December 31 - Market values of IBM shares are $130. Market value of GMC bonds are $14,000.

Required -

1: What is the amount reported as revenue from dividends in the annual Income Statement?

2: What is the amount reported as Interest Revenue in the annual Income Statement?

3: What is the amount reported as the ending balance of the account "IBM Shares" at year end in the Balance sheet?

4: What is the amount reported as the ending balance of the account "GMC Bonds" at year end in the Balance sheet?

Reference no: EM133159256

Questions Cloud

Determine compensation strategy : Discuss with the business 3 job evaluation methods utilized to determine compensation strategy. Include advantages and disadvantages of each method.
Find the dispute resolution method : Find the dispute resolution method that is available for students at your educational institution. Which method does it most resemble among those discussed in t
Consider ethical and human diversity issues : As a human services professional, you must consider ethical and human diversity issues related to collecting data for research.
Discussing the systemic discrimination : 1. What are the key words you need to understand when discussing the systemic discrimination?
What is the amount reported as the ending balance : Muffin Co. has a December 31 year-end. It used some of its excess cash to buy temporary Investments. What is the amount reported as the ending balance
Evaluate the lessons and ideas learned : You will write a mock email to a friend where you will share your real-life experiences related to the class and analyze the topic of your choice from Chapters
Conducting an investigation : Discuss the three factors that may contribute to an incident in the workplace.
Increasing the probability of positive behaviour : Discuss how you will go about increasing the probability of positive behaviour. Ensure that you include specific actions to meet this objective and how you will
Indicate key points of communication : Why are you a best fit for our company working as a server?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the carrying value of the asset

Dolphin Company uses special strapping equipment in its packaging business. The equipment was purchased in January 20X3 for $8,000,000 and had an estimated.

  Evaluating a project that costs

We are evaluating a project that costs $800,000, has an eight-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 60,000 units per year. Price per unit is $40,..

  How much will kristina expect to have in her account

If the account has an expected annual return of 6%, how much will Kristina expect to have in her account on her 65th birthday

  Prepare Hillsburg general journal entry for cash purchase

Marvel has customer contracts valued at $20,000. Prepare Hillsburg's general journal entry for the cash purchase of Marvel's net assets

  Prepare a relevant cost schedule

Prepare a relevant cost schedule that indicates whether CBI Products should buy the desk legs or continue to make them

  How much is mcduck tax liability

How much is McDuck's tax liability if he is in the 10% tax bracket? How much is McDuck's tax liability if he is in the 24% tax bracket (not 10%)?

  Determine the retained earnings and the net income

Determine the Retained Earnings and the Net Income. Determine the Earnings Before Interest, Taxes, Depreciation and Amortization

  What is the name of the independent auditing firm

What is the name of the independent auditing firm? Do you think the auditing firm really is independent? What office of this firm signed the audit report

  What is the future value of this contract

The first cash flow is exactly 1 year from today). At an interest rate of 7%, what is the future value of this contract exactly 4 years from today

  Marry sold lake-side cabin for 55000 to state university

marry sold lake-side cabin for 55000 to state university for use in annual fund-raising auction. the appraised value of

  The lessor incurs no material initial direct costs

On January 1, 2010, the Ballieu Company leases specialty equipment with an economic life of eight years to the Anderson Company. The lease contains the following terms and provisions:

  Cosmo corporation is projecting a cash balance of 32785 in

cosmo corporation is projecting a cash balance of 32785 in its december 31 2013 balance sheet. cosmo schedule of

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