2023 ix months ago a company purchased an investment in stock for 72 000 The | Assignments Online

2023 ix months ago a company purchased an investment in stock for 72 000 The | Assignments Online

Assignments Online 2023 Business Finance

 

 

ix months ago, a company purchased an investment in stock for $72,000. The investment is classified as available-for-sale securities. The current fair value of the stock is $76,200. The company should record a:

 

[removed] Debit to Investment Revenue for $4,200.
[removed] Credit to Investment Revenue for $4,200.
[removed] Credit to Unrealized Gain-Equity for $4,200.
[removed] Credit to Market Adjustment – Available-for-Sale for $4,200.
[removed]

Debit to Unrealized Loss-Equity for $4,200.

 

 

On February 15, Seacroft buys 6,500 shares of Kebo common stock at $ 28.68 per share plus a brokerage fee of $400. The stock is classified as available-for-sale securities. On March 15, Kebo declares a dividend of $1.20 per share payable to stockholders of record on April 15. Seacroft received the dividend on April 25 and ultimately sells half of the Kebo stock on November 17 of the current year for $29.45 per share less a brokerage fee of $250. The journal entry to record the dividend on April 25 is:
[removed] Debit Cash $7,800; credit Gain on Sale of Investments $7,800.
[removed] Debit Cash $7,800; credit Interest Revenue $7,800.
[removed] Debit Cash $7,800; credit Dividend Revenue $7,800.
[removed] Debit Cash $6,911; credit Dividend Revenue $6,911.
[removed]

Debit Cash $6,911; credit Interest Revenue $6,911.

 

 

A company owns 9% bonds with a par value of $100,000 that pay interest on October 1 and April 1. The amount of interest accrued on December 31 (the company’s year-end) would be (Do not round your intermediate calculations):
[removed] $750.
[removed] $2,250.
[removed] $4,500.
[removed] $9,000.
[removed]

$1,500.

 

 

On February 15, Seacroft buys 7,200 shares of Kebo common at $28.55 per share plus a brokerage fee of $410. The stock is classified as available-for-sale securities. On March 15, Kebo declares a dividend of $1.17 per share payable to stockholders of record on April 15. Seacroft received the dividend on April 25 and ultimately sells half of the Kebo stock on November 17 of the current year for $29.32 per share less a brokerage fee of $260 . The fair value of the remaining shares is $29.52 per share. The amount that Seacroft should report in the equity section of its year-end December 31 balance sheet for its investment in Kebo is (Round your intermediate and final dollar values to the nearest dollar amount):
[removed] $3,287.
[removed] $2,307.
[removed] $6,574.
[removed] $10,731.
[removed]

$8,424.

 

On February 15, Seacroft buys 6,000 shares of Kebo common at $28.73 per share plus a brokerage fee of $495. The stock is classified as available-for-sale securities. On March 15, Kebo declares a dividend of $1.25 per share payable to stockholders of record on April 15. Seacroft received the dividend on April 25 and ultimately sells half of the Kebo stock on November 17 of the current year for $29.50 per share less a brokerage fee of $350. The fair value of the remaining shares if $29.70 per share. The amount that Seacroft should report in the asset section of its year-end December 31 balance sheet for its investment in Kebo is:
[removed] $1,712.
[removed] $5,610.
[removed] $89,100.
[removed] $172,875.
[removed]

$2,662.

 

 

On February 15, Seacroft buys 6,400 shares of Kebo common stock at $28.69 per share plus a brokerage fee of $475. The stock is classified as available-for-sale securities. On March 15, Kebo declares a dividend of $1.21 per share payable to stockholders of record on April 15. Seacroft received the dividend on April 25 and ultimately sells half of the Kebo stock on November 17 of the current year for $29.46 per share less a brokerage fee of $330. The fair value of the remaining shares is $29.66 per share. The amount that Seacroft should report on its year-end December 31 income statement related to the investment in Kebo is (Round your intermediate and final dollar values to the nearest dollar amount):
[removed] $2,866.
[removed] $9,640.
[removed] $1,896.
[removed] $5,610.
[removed] $7,744.

Assignmentsonline.org help students to solve their assignment in the best possible manner. In the assignment help industry, we are regarded as one of the best helpers for students’ tasks in all subjects. We provide solutions to students from all corners of the world, but the main focus is from students residing in the US, UK, and Australia. Our primary focus is solving student assignments for all subjects and streams.

Place Order NOw

Assignment online is a team of top-class experts whose only goal is to give you the best assignment help service. Follow the link below to order now...

#write essay #research paper

/by
You might also like
2023 Type of paperEssay Any Type SubjectOther Number of pages8 Format of citationAPA Number of cited | Assignments Online
2023 Review the textbook problem 54 on page 608 Prepare a 350 to 700 word document that | Assignments Online
2023 Assume that the low calorie microwavable food company from Assignments 1 and 2 | Assignments Online
2023 Develop a brief synopsis of a project you would like to propose to your potential company s facilities planning | Assignments Online
2023 You should include the following information The title and a brief introduction of your selected leadership book similar | Assignments Online
2023 In the land of free trade the public does not view all industries | Assignments Online
2023 MKT 500 WEEK 9 DISCUSSIONS Watch the video on omni channel integration Question one | Assignments Online
2023 Review the rubric to make sure you understand the criteria for earning your grade In Meeting the Ethical Challenges | Assignments Online