Business, 12.12.2019 05:31 jngonzo1226

Culver company has the following securities in its portfolio on december 31, 2017. none of these investments are accounted for under the equity method. investments cost fair value 1,500 shares of gordon, inc., common $77,600 $73,200 5,000 shares of wallace corp., common 172,900 167,700 400 shares of martin, inc., preferred 63,500 65,100 $314,000 $306,000 all of the securities were purchased in 2017. in 2018, culver completed the following securities transactions. march 1 sold the 1,500 shares of gordon, inc., common, @ $45 less fees of $1,200. april 1 bought 700 shares of earnhart corp., common, @ $75 plus fees of $1,300. culver’s portfolio of equity securities appeared as follows on december 31, 2018. investments cost fair value 5,000 shares of wallace corp., common $172,900 $167,700 700 shares of earnhart corp., common 53,800 50,100 400 shares of martin, inc., preferred 63,500 61,700 $290,200 $279,500 prepare the general journal entries for culver company for: (a) the 2017 adjusting entry. (b) the sale of the gordon stock. (c) the purchase of the earnhart stock. (d) the 2018 adjusting entry for the trading portfolio.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 01:00

Data pertaining to the current position of forte company are as follows: cash $437,500 marketable securities 170,000 accounts and notes receivable (net) 320,000 inventories 700,000 prepaid expenses 42,000 accounts payable 240,000 notes payable (short-term) 250,000 accrued expenses 310,000 required: 1. compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. round ratios to one decimal place. 2. compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. consider each transaction separately and assume that only that transaction affects the data given. round to one decimal place. a. sold marketable securities at no gain or loss, 75,000. b. paid accounts payable, 135,000. c. purchased goods on account, 100,000. d. paid notes payable, 105,000. e. declared a cash dividend, 125,000. f. declared a common stock dividend on common stock, 45,000. g. borrowed cash from bank on a long-term note, 205,000. h. received cash on account, 130,000. i. issued additional shares of stock for cash, 635,000. j. paid cash for prepaid expenses, 15,000.

Answers: 3

Answer

Business, 22.06.2019 10:20

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.

Answers: 1

Answer

Business, 22.06.2019 11:10

Suppose that the firm cherryblossom has an orchard they are willing to sell today. the net annual returns to the orchard are expected to be $50,000 per year for the next 20 years. at the end of 20 years, it is expected the land will sell for $30,000. calculate the market value of the orchard if the market rate of return on comparable investments is 16%.

Answers: 1

Answer

Business, 22.06.2019 11:30

1. regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool. student c incorrect

Answers: 2

Answer

You know the right answer?

Culver company has the following securities in its portfolio on december 31, 2017. none of these inv...

Questions