1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MAXImum [283]
2 years ago
5

Using the data in EA-3, assume that Slick Rocks management purchased the Sandstone stock for the trading securities portfolio in

stead of the available-for-sale securities portfolio. Prepare any journal entries that are required by the facts presented in the case.
Business
1 answer:
vitfil [10]2 years ago
6 0

The journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.

Given that Slick Rocks management purchased the Sandstone stock for the trading securities portfolio instead of the available-for-sale securities portfolio.

We are required to form the journal entry that are required by the facts presented in the case.

A journal is basically a detailed account which records all the financial transactions of a business to be used for the future reconciling of accounts.

The journal entry will be as under:

Securities account debited and bank account credited. If we know that which security is being purchased then we can name that securities also.

Hence the journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.

Learn more about journal at brainly.com/question/14279491

#SPJ4

You might be interested in
Which selling approach is considered direct and focuses mainly on convincing the buyers that the item is needed?
arsen [322]

Answer:

Which selling approach is considered direct and focuses mainly on convincing the buyers that the item is needed?

A. upselling

B. consultative selling

C. relationship selling

D. personal selling

E. traditional selling

answer is B

3 0
3 years ago
econ One year a country has negative net exports. The next year it still has negative net exports and imports have risen more th
Vesnalui [34]

Answer:

its trade deficit rose

Explanation:

Trade deficit occurs when the imports of a country are higher than the exports. It is called the trade deficit. It means the country is importing more value of goods from other countries and exporting less. When Imports grows higher than the growth in exports, the trade deficit eventually rises.

8 0
3 years ago
HELP PLS!!! If a customer is dissatisfied and disgruntled, a customer service profession should act as an intermediary,
olasank [31]

Answ er:

Explanation:

8 0
3 years ago
Read 2 more answers
Imagine that two goods are available to you: apples (X) and pears (Y). You like apples half as much as pears. If your fruit budg
goldenfox [79]

Answer:

the value of the MktRS (market rate of substitution) is 0

Explanation:

The computation of the market rate of substitution is shown below:

Since it is mentioned that

You like apples half as pears

So the equation would be

X = 1 ÷ 2 Y

X ÷ Y = 1 ÷ 2

Now the market rate of substitution of the price is

= $2 ÷ $4

= 1 ÷ 2

So,

= 1 ÷ 2 - 1 ÷ 2

= 0

Hence, the value of the MktRS (market rate of substitution) is 0

The same is to be considered

3 0
3 years ago
1) Which of these is a social goal of any economic system?
vichka [17]

<u>A social goal of any economic system:</u>

All economic systems' broad goals saw as key to the U.S. economy are soundness, security, economic freedom, equity, economic growth, efficiency, and full employment.

Accomplishing these objectives is troublesome in light of the fact that—despite the fact that the objectives supplement each other now and again—by and large, there are exchange offs to confront. To keep up a solid economy, the national government looks to achieve three approach objectives: stable costs, full business, and financial development.

Notwithstanding these three arrangement objectives, the central government has different destinations to keep up the sound financial strategy. Monetary objectives are not in every case commonly perfect; the expense of tending to a specific objective or set of objectives is having fewer assets to focus on the rest of the objectives.

7 0
4 years ago
Other questions:
  • The fundamental purpose of the starting phase of a project is​ ________.
    13·1 answer
  • One criticism of servant leadership is question 6 options: researchers have been unable to reach a consensus on a common definit
    8·1 answer
  • Which type of auto coverage is required by nearly every state in the country?
    9·1 answer
  • A piece of labor-saving equipment has just come onto the market that Mitsui Electronics, Ltd., could use to reduce costs in one
    6·1 answer
  • Prime Company holds 80 percent of Lane Company’s stock, acquired on January 1, 20X2, for $160,000. On the date of acquisition, L
    9·1 answer
  • What can students do to “get smarter” refer to 5 characteristics of Grit
    15·1 answer
  • 10.A business operates its petty cash on the imprest system .At the
    11·1 answer
  • The Wagner Company made the following expenditures for research and development early in 2014: $80,000 for materials, $100,000 f
    11·1 answer
  • I believe that morgage option 1 is the best option. There are three elements of the mortgage, and three reasons why I believe th
    6·1 answer
  • Nike decides to invest $60,000,000 into a shoe factory in Vietnam. What is the opportunity cost in this situation
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!