Homework Answers
Ans:B
| Date | Account Title | Debit | Credit |
| B | Short-Term Equity Investments | $ 300 | |
| Unrealised Gain | $ 300 |
Adjusting entry for to record to market value at the end of the Year
is correct answer
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Question 20 2 pts Equity securities of Sanchez Inc. were purchased as a short-term passive investment...
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exercise 16-06
in its first year of operations Sheridan corporation purchased as a
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Passive investments in equity Securities die readily marketable investments that management intends to hold for extended periods. always long-term investments. current assets that require the equity method of accounting for investments Investments with no influence on the investee. 2 pts Question 12 Dewey Inc. owns 64% of Felicity Corporation's outstanding voting stock. Dewey should account for its investment in Felice using: the fair value method the cost method consolidated financial statements. the mark-to-market method 2 pts Question 13 that When...
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exercise 16-06
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long term investment available for sale debt securities costing
$68,500. December 21,2020 the fair value of the securities is $
63,650
We were unable to transcribe this imageList of Accounts CLOSE Brief Exercise 16-06 Debt Investments Dividend Revenue Fair Value Adjustment-Available-for-Sale Fair Value Adjustment-Stock Fair Value Adjustment-Trading Gain on Sale of Debt Investments Gain on Sale of Stock Investments Interest Receivable Interest Revenue Loss on Sale of...
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American Surety and Fidelity buys and sells securities expecting
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relate to American's trading account and equity securities
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