User Account

All Pages

Which of the journal entries is required at december

Assignment Help Financial Accounting
Reference no: EM132999027

Problem 1: At December 31, 2021, Cullumber Company has an equity portfolio valued at $ 163000. Its cost was $ 134000. If the Securities Fair Value Adjustment has a debit balance of $ 8100, which of the following journal entries is required at December 31, 2021?

Option 1: Fair Value Adjustment 29000                                    Unrealized Holding Gain or Loss-Income 29000

Option 2: Unrealized Holding Gain or Loss-Income 29000             Fair Value Adjustment 29000

Option 3: Unrealized Holding Gain or Loss-Income 20900             Fair Value Adjustment 20900

Option 4: Fair Value Adjustment 20900                                     Unrealized Holding Gain or Loss-Income 20900

Reference no: EM132999027

Questions Cloud

How the accounting equation will be affected : How the accounting equation will be affected. Michael Anderson is starting a computer programming business and has deposited an initial investment of $15,000.
Which the business entity concept means that : Which the business entity concept means that? the entity is an individual economic unit for which data are recorded, analyzed, and reported
How does the investment risk level fit with risk tolerance : Would you say this is a risky investment or a conservative investment? How does this investment risk level fit with your risk tolerance?
Calculate the accounts receivable turnover ratio : Use Starbucks Corporation's annual report (2020), and address the following questions elaborately with details:
Which of the journal entries is required at december : If the Securities Fair Value Adjustment has a debit balance of $ 8100, which of the following journal entries is required at December 31, 2021?
Compute the weighted average cost of capital : Speedy Delivery Systems can buy a piece of equipment that is anticipated to provide an 5 percent return and can be financed at 2 percent with debt.
What amount of gain or loss would oriole corporation report : What amount of gain or loss would Oriole Corporation report in its income statement for the year ended December 31, 2022 related to its investment
Calculate the current ratio and quick ratio : Using Starbucks Corporation's annual reports (2019 & 2020), address the following questions with some details:
What are the causes of the time value of money : What are the causes of the time value of money? In other words, why would you prefer to receive $100 today rather than wait and receive $100 one year from now?

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