Business, 10.04.2020 00:17 nerdykitty4586

Rantzow-Lear Company buys and sells securities expecting to earn profits on short-term differences in price. The company’s fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear’s trading account occurred during December 2020 and the first week of 2021.

2020
Dec. 17 Purchased 190,000 Grocers' Supply Corporation preferred shares for $475,000.
28 Received cash dividends of $5,600 from the Grocers' Supply Corporation preferred shares.
31 Recorded any necessary adjusting entry relating to the Grocers' Supply Corporation preferred shares. The market price of the stock was $3 per share.

2021
Jan. 5 Sold the Grocers' Supply Corporation preferred shares for $541,500.

1. Prepare the appropriate journal entry or entries for each transaction.
2. Indicate any amounts that Rantzow-Lear Company would report in its 2021 balance sheet and income statement as a result of this investment.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 21:40

The economic advisor of a large tire store proposes the demand function d(p)equalsstartfraction 1900 over p minus 40 endfraction , where d(p) is the number of tires of one brand and size that can be sold in one day at price p. answer parts (a) through (e) below. a. recalling that the demand must be positive, what is the domain of this function? the domain consists of all possible values of ▼ for which ▼ p d(p) ▼ does not exist. is positive. is zero. is negative. exists.

Answers: 3

Answer

Business, 22.06.2019 21:30

Sunset foods relies on a highly centralized functional structure to ensure consistency in the quality and taste of its products and to drive down costs via process innovations. however, as a consequence of its highly compartmentalized structure, the firm has found it difficult to transfer information and ideas from one department to the next. with the launch of its new line of breakfast foods coming up, how can sunset improve its ability to collaborate without sacrificing the benefits of its current structure

Answers: 1

Answer

Business, 23.06.2019 00:00

The gorman group is a financial planning services firm owned and operated by nicole gorman. as of october 31, 2016, the end of the fiscal year, the accountant for the gorman group prepared an end-of-period spreadsheet, part of which follows:

Answers: 2

Answer

Business, 23.06.2019 00:20

According to the naeyc curriculum is effective when all of the following occur except

Answers: 2

Answer

You know the right answer?

Rantzow-Lear Company buys and sells securities expecting to earn profits on short-term differences i...

Questions