Homework Answers
1. Fair value is used for assets whose carrying value is basesd on mark-to-market valuations, for fixed assets carried at historical cost this fare value of the asset is not used. So, the fare value is used for mainly current investments which are meant for trading in short term while this method is not used for valuing fixed kind of investment.
2.Balance sheet veiw
Asset
- current assets
- Short term investment 19, 200
Non-current assets
- non current assets
- Fixed investment. 450, 000
Trading Account (extract)
| Net income. 350,000 | |
| Loss on investment 3300 | Net income after loss 346,700 |
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PROBLEMS (GROUP B) 00 P7-34B Homestead Financial Corporation owns numerous investments in the shares of other compan...
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3. On January 1, 2018 Big Basket Corporation purchased 30,000 shares (5%) of Training Camp Corporation...
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Help me answer #2 Rose Company had no short-term investments prior to this year. It had...
Help me answer #2
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. Apr. 16 Purchased 3,500 shares of Gem Co. stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. 20 Purchased 1,000 shares of Xerox stock at $16 per share. Aug. 15 Received a $1.00 per share cash dividend on the Gem Co. stock. 28 Sold...
Page Break 3. On January 1, 2018 Big Basket Corporation purchased 30,000 shares (5%) of Training...
Page Break 3. On January 1, 2018 Big Basket Corporation purchased 30,000 shares (5%) of Training Camp Corporation for $50,000 and 50,000 Shares (35%) of Energy Power Drink Inc. for $80,000 both as long term investments. On December 31, 2018 Training Camp declared $1 dividend payment per share, and Energy Power Drink Inc. report its Net Income as $55,000 and paid $0.50 per share dividend payment. At year end December 31, 2018 Training Camp Corporation shares are trading at $2.50...
and show m investments in debt and equity securities. - GLS any unrealized gain or loss...
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The beginning balance sheet of Music Source Co included a S700 000 investment in Eaten stock...
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Rose Company had no short-term investments prior to this year. It had the following transactions this...
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. Apr. 16 Purchased 3,500 shares of Gem Co. stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. 20 Purchased 1,000 shares of Xerox stock at $16 per share. Aug. 15 Received a $1.00 per share cash dividend on the Gem Co. stock. 28 Sold 2,000 shares of Gem...
3. On January 1, 2018 Big Basket Corporation purchased 30,000 shares (5%) of Training Camp Corporation for $50,000 and 50,000 Shares (35%) of Energy Power Drink Inc. for $80,000 both long term investments. On December 31, 2018 Training Camp declared $1 dividend payment per share, and Energy Power Drink Inc. report its Net Income as $55,000 and paid $0.50 per share dividend payment. At year end December 31, 2018 Training Camp Corporation shares are trading at $2.50 per share, whereas...
3. On January 1, 2018 Big Basket Corporation purchased 30,000 shares (5%) of Training Camp Corporation for $50,000 and 50,000 Shares (35%) of Energy Power Drink Inc. for $80,000 both as long term investments. On December 31, 2018 Training Camp declared Si dividend payment per share, and Energy Power Drink Inc. report its Net Income as $55,000 and paid $0.50 per share dividend payment At year end December 31, 2018 Training Camp Corporation shares are trading at $2.50 per share,...
3. On January 1, 2018 Big Basket Corporation purchased 30,000 shares (5%) of Training Camp Corporation for $50,000 and 50,000 Shares (35%) of Energy Power Drink Inc. for $80,000 both as long term investments. On December 31, 2018 Training Camp declared $1 dividend payment per share, and Energy Power Drink Inc. report its Net Income as $55,000 and paid $0.50 per share dividend payment. At year end December 31, 2018 Training Camp Corporation shares are trading at $2.50 per share,...
Problem 15-4A Recording, adjusting, and reporting stock investments with insignificant influence P41 Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short- term stock investments with insignificant influence. Apr. July Aug. 16 Purchased 3,500 shares of Gem Co. stock at $24 per share. 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. 20 Purchased 1,000 shares of Xerox stock at $16 per share. 15 Received a $1.00 per share...
Help me answer #2
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. Apr. 16 Purchased 3,500 shares of Gem Co. stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. 20 Purchased 1,000 shares of Xerox stock at $16 per share. Aug. 15 Received a $1.00 per share cash dividend on the Gem Co. stock. 28 Sold...
Page Break 3. On January 1, 2018 Big Basket Corporation purchased 30,000 shares (5%) of Training Camp Corporation for $50,000 and 50,000 Shares (35%) of Energy Power Drink Inc. for $80,000 both as long term investments. On December 31, 2018 Training Camp declared $1 dividend payment per share, and Energy Power Drink Inc. report its Net Income as $55,000 and paid $0.50 per share dividend payment. At year end December 31, 2018 Training Camp Corporation shares are trading at $2.50...
and show m investments in debt and equity securities. - GLS any unrealized gain or loss is reported in the financial statements. P10.2 (LO 2, 3) Financial Statement In January 2020 the management of Kinzie Compas cludes that it has sufficient cash to permit some short term investments in debt and equity se During the year, the following transactions occurred. Feb. 1 Purchased 600 shares of Muninger common stock for $32,400. Mar. 1 Purchased 800 shares of Thaiman common stock...
The beginning balance sheet of Music Source Co included a S700 000 investment in Eaten stock 40% ownership Music transactions: 1 (Click the icon to view the transactions.) Read the requirements Mar. 3 Purchased 9,000 shares at $13 per share of Rim Software common stock as a long-term equity investment, representing 2% ownership, no significant influence. May 15 Received a cash dividend of S0.76 per share on the Rim investment. Dec. 15 Received a cash dividend of $50,000 from Eaten...
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