Homework Answers
| Account Titles and Explanation | Debit | Credit |
| Fair value adjustment | 616000 | |
| Unrealized holding gain or loss | 616000 |
Working:
| Investment | Cost | Fair Value | Unrealized gain (loss) |
| Delaney Motors | 1350000 | 1574000 | 224000 |
| Patrick Electric | 987000 | 725000 | -262000 |
| Norton Industries | 22365000 | 22192000 | -173000 |
| Total $ | 24702000 | 24491000 | -211000 |
| Balance required in fair value adjustment (Cr.) | 211000 | ||
| Existing balance in fair value adjustment (Cr.)* | 827000 | ||
| Adjustment (Dr.) | 616000 | ||
*Existing balance in fair value adjustment = $22365000 - $21538000 = $827000
| No. | Account Titles and Explanation | Debit | Credit |
| 1 | Equity Investment in Norton Industries | 126000 | |
| Investment revenue (25% x $504000) | 126000 | ||
| (To record revenue) | |||
| 2 | Cash (25% x $92000) | 23000 | |
| Equity Investment in Norton Industries | 23000 | ||
| (To record dividends) |
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Problem 17-08 Riverbed...
please solve(question first picture and second picture is what you have to answer) Problem 17-08 Riverbed...
please solve(question first picture and second picture is what
you have to answer)
Problem 17-08 Riverbed Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Riverbed has had a policy of investing idie cash in equity securities. In particular, Riverbed...
please solve i took two new pictures please help me solve them Problem 17-08 Riverbed Corp....
please solve
i took two new pictures please help me solve them
Problem 17-08 Riverbed Corp. is a medium-szed corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside Investment. Over the years, Riverbed has had a policy of investing de cash in equity securities. In particular, Riverbed has...
CALCULATOR FULL SCREEN PRINTER VERSION BACK! NEX Problem 17-08 Metlock Corp. is a medium-sized corporation specializing...
CALCULATOR FULL SCREEN PRINTER VERSION BACK! NEX Problem 17-08 Metlock Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Metlock has had a policy of investing idle cash in equity securities. In particular, Metlock has made periodic investments in the...
Problem 17-08 Concord Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The...
Problem 17-08
Concord Corp. is a medium-sized corporation specializing in
quarrying stone for building construction. The company has long
dominated the market, at one time achieving a 70% market
penetration. During prosperous years, the company’s profits,
coupled with a conservative dividend policy, resulted in funds
available for outside investment. Over the years, Concord has had a
policy of investing idle cash in equity securities. In particular,
Concord has made periodic investments in the company’s principal
supplier, Norton Industries. Although the...
P17.8 (LO 2, 3) (Fair Value and Equity Methods) Brooks Corp. is a medium-sized corporation spe-...
P17.8 (LO 2, 3) (Fair Value and Equity Methods) Brooks Corp. is a medium-sized corporation spe- cializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Brooks has had a policy of investing idle cash in equity securities. In particular, Brooks has made periodic investments in...
Sweet Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Sweet Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company’s profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Sweet has had a policy of investing idle cash in equity securities. In particular, Sweet has made periodic investments in the company’s principal supplier, Norton Industries. Although the firm currently...
Carla Corp is a medium sized corporation soecializing in quarrying stine for building construction. The company...
Carla Corp is a medium sized corporation soecializing in quarrying stine for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Carla has had a policy of investing idle cash in equity securities. In particular Carla had made periodic investments in the company's principal supplier, Norton Industries. Although the furm...
Sage Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Sage Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Sage has had a policy of investing idle cash in equity securities. In particular, Sage has made periodic investments in the company's principal supplier, Norton Industries. Although the firm currently...
Larkspur Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Larkspur Corp. is a medium-sized corporation specializing in
quarrying stone for building construction. The company has long
dominated the market, at one time achieving a 70% market
penetration. During prosperous years, the company’s profits,
coupled with a conservative dividend policy, resulted in funds
available for outside investment. Over the years, Larkspur has had
a policy of investing idle cash in equity securities. In
particular, Larkspur has made periodic investments in the company’s
principal supplier, Norton Industries. Although the firm currently...
Larkspur Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Larkspur Corp. is a medium-sized corporation specializing in
quarrying stone for building construction. The company has long
dominated the market, at one time achieving a 70% market
penetration. During prosperous years, the company’s profits,
coupled with a conservative dividend policy, resulted in funds
available for outside investment. Over the years, Larkspur has had
a policy of investing idle cash in equity securities. In
particular, Larkspur has made periodic investments in the company’s
principal supplier, Norton Industries. Although the firm currently...
please solve(question first picture and second picture is what
you have to answer)
Problem 17-08 Riverbed Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Riverbed has had a policy of investing idie cash in equity securities. In particular, Riverbed...
please solve
i took two new pictures please help me solve them
Problem 17-08 Riverbed Corp. is a medium-szed corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside Investment. Over the years, Riverbed has had a policy of investing de cash in equity securities. In particular, Riverbed has...
CALCULATOR FULL SCREEN PRINTER VERSION BACK! NEX Problem 17-08 Metlock Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Metlock has had a policy of investing idle cash in equity securities. In particular, Metlock has made periodic investments in the...
Problem 17-08
Concord Corp. is a medium-sized corporation specializing in
quarrying stone for building construction. The company has long
dominated the market, at one time achieving a 70% market
penetration. During prosperous years, the company’s profits,
coupled with a conservative dividend policy, resulted in funds
available for outside investment. Over the years, Concord has had a
policy of investing idle cash in equity securities. In particular,
Concord has made periodic investments in the company’s principal
supplier, Norton Industries. Although the...
P17.8 (LO 2, 3) (Fair Value and Equity Methods) Brooks Corp. is a medium-sized corporation spe- cializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Brooks has had a policy of investing idle cash in equity securities. In particular, Brooks has made periodic investments in...
Sage Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company's profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Sage has had a policy of investing idle cash in equity securities. In particular, Sage has made periodic investments in the company's principal supplier, Norton Industries. Although the firm currently...
Larkspur Corp. is a medium-sized corporation specializing in
quarrying stone for building construction. The company has long
dominated the market, at one time achieving a 70% market
penetration. During prosperous years, the company’s profits,
coupled with a conservative dividend policy, resulted in funds
available for outside investment. Over the years, Larkspur has had
a policy of investing idle cash in equity securities. In
particular, Larkspur has made periodic investments in the company’s
principal supplier, Norton Industries. Although the firm currently...
Larkspur Corp. is a medium-sized corporation specializing in
quarrying stone for building construction. The company has long
dominated the market, at one time achieving a 70% market
penetration. During prosperous years, the company’s profits,
coupled with a conservative dividend policy, resulted in funds
available for outside investment. Over the years, Larkspur has had
a policy of investing idle cash in equity securities. In
particular, Larkspur has made periodic investments in the company’s
principal supplier, Norton Industries. Although the firm currently...
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