a)
Account Title | Debit | Credit |
Unrealized Holding Gain or Loss- Income | 38,000.00 | |
Fair Value Adjustment (Trading) | 38,000.00 | |
Fair Value Adjustment (Available-for-Sale) | 654,000.00 | |
Unrealized Holding Gain or Loss- Equity | 654,000.00 |
Working Note-
Security | Cost | Fair Value | Unrealized Gain (loss) |
Delaney motors | 1,350,000.00 | 1,574,000.00 | 224,000.00 |
Patrick Electric | 987,000.00 | 725,000.00 | - 262,000.00 |
Total | 2,337,000.00 | 2,299,000.00 | - 38,000.00 |
Computation of Unrealized Gain or Loss in 2019 | |||
Security | Cost | Fair Value | Unrealized Gain (loss) |
Norton Ind | 22,365,000.00 | 21,538,000.00 | - 827,000.00 |
Computation of Unrealized Gain or Loss in 2020 | |||
Security | Cost | Fair Value | Unrealized Gain (loss) |
Norton Ind | 22,365,000.00 | 22,192,000.00 | - 173,000.00 |
Previous Fair Value Adjustment (Cr) |
- 827,000.00 | ||
Fair Value Adjustment (Dr) | - 654,000.00 |
2)
Account Title | Debit | Credit |
Equity Investments (Norton Industries) | 126,000.00 | |
Investment Revenue ($504,000 X 25%) |
126,000.00 | |
Cash ($92,000 X 25%) | 23,000.00 | |
Equity Investments (Norton Industries) | 23,000.00 |
please solve i took two new pictures please help me solve them Problem 17-08 Riverbed Corp....
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...
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...
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...
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...
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...
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...
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...
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...
please solve(question first picture and second picture is what
you have to answer)
We were unable to transcribe this imagePrepare the appropriate adjusting entries for Riverbed as of December 31, 2020, to reflect the application of the "fair value rule for the securities described above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Prepare the entries for...