User Account

All Pages

Which journal entry to record initial purchase will include

Assignment Help Financial Accounting
Reference no: EM132948974

Problem 1: Debt instruments which are recorded using the Fair Value through Net Income approach and reported on the balance sheet at fair value in the current assets section:

Select one:
a. Must be strategic investments
b. Must be presented at cost along with any balance in the valuation allowance account
c. Are held by investors for long-term interest revenue purpose
d. Are presented at fair value net of any fair value adjustments

Problem 2: Hamplet Company purchases 5,000 common shares in Xavier Corporation on January 1, 2020, at $100 per share. The 5,000 common shares represent 25% of Xavier's total outstanding common shares. The journal entry to record the initial purchase will include a debit to:

Select one:
a. Long-term Investment - Shares
b. Short-term Investment - Shares
c. Investment in Xavier Corporation Shares
d. Cash

Reference no: EM132948974

Questions Cloud

Which the accounting method used to report short-term : Which the accounting method used to report short-term investments in bonds is called? Fair value through Net Income Method
How many percent does a company typically need to own out : How many percent does a company typically need to own out of the common shares outstanding of an investee corporation to have a significant influence?
Which of the debt instruments would be reported : Which debt instruments would be reported on the balance sheet as a long-term investment? A debt instrument that matures in 5 years and the investor intends
Which long-term debt investments are accounted for using the : Using the fair value through net income method, an excess in value over the investment cost, prior to sale of that investment, should be recorded as
Which journal entry to record initial purchase will include : The 5,000 common shares represent 25% of Xavier's total outstanding common shares. The journal entry to record the initial purchase will include a debit to
Make a general journal entry to record the restaurant wage : Make a general journal entry to record the restaurant's wage expense for Jackson's work, including his payroll deductions and the employer payroll costs.
Post to the estimated warranty payable t-account : Post to the Estimated Warranty Payable T-account. At the end of 2014, what is the estimated warranty payable balance for Patagonia Corporation?
Compute swift media sign company days sales in average : Suppose Swift's normal credit terms for a sale on account are "2/10, net 30." How well does Swift's collection period compare to the company's credit terms?
Record the transactions for johann : Johann Schroeder borrowed $200,000 from HSBC on a 90-day, 4 percent note. Record the transactions for Johann, Borrowing the money on May 6

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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