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]
1 year 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]1 year 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
A customer came to your department with an urgent question. You promised her that you wouldcollect information about her questio
Lapatulllka [165]

Answer:

The answer is: Ask your supervisor if you can be late for the meeting.

Explanation:

A golden rule in customer service is <em>"treat your customers as you would like to be treated if you were the customer</em>".

So imagine yourself in the customer's position. Would you like your question answered as soon as possible, or would you rather wait around someone else's office wasting your time? It´s not very hard to decide.

Any supervisor will understand if you are going to be late because you are helping a customer.  

6 0
3 years ago
Claymore Corp. has the following information about its standards and production activity for September. The volume variance is:
Serhud [2]

Answer: $2,200 Unfavorable

Explanation:

Volume variance is the difference between actual and budgeted output so can be calculated by;

= (Budgeted output - Actual output) * overhead rate

= (4,900 - 3,800) * 2

= $2,200 Unfavorable

<em>Unfavorable because they produced less than the budget indicated that they would. </em>

7 0
3 years ago
Profit Suppose that the daily profit (in dollars) from the production and sale of x units of a product is given byP180xx21000200
algol13

Answer:

The answer is "1798".

Explanation:

\to p=180x-\frac{x^{2}}{1000}-2000

In order to find the rate of profit increase each day, we differentiate between the money demand function and the time t.

\to \frac{dp}{dt}=180\frac{dx}{dt}-\frac{2x}{1000}\frac{dx}{dt} \\\\\to \frac{dp}{dt}=\frac{dx}{dt}\left (180-\frac{2x}{1000} \right ).................(1)

Calculate \frac{dp}{dt} when x=100

\frac{dx}{dt}=10  (Extension rate of produced and delivered units per day)

x=100 \ and\ \frac{dx}{dt}=10 ......... in \ \ eq(1)\\\\\frac{dp}{dt} = 10\left (180-\frac{2(100)}{1000} \right )\\\\  

    =10\left (180-0.2\right ) \\\\=1798 \\\\

7 0
3 years ago
operation, 2,300 units were produced and 1,800 units were sold. Actual fixed costs are the same as the amount budgeted for the m
kykrilka [37]

Answer:

$124,200

Explanation:

Contribution margin is net of sales value and variable cost. This value is available to cover the fixed cost of the business and profit after adjusting fixed cost.

As per given data

Price = $98

Numbers of units sold = 1,800

Total Sales = $98 x 1,800 = $176,400

Variable cost = $23 x 1,800 units = $41,400

Variable marketing cost = $6 x 1,800 = $10,800

Total Variable cost = $41,400 + $10,800 = $52,200

Contribution Margin = Total Sales - Total Variable cost

Contribution Margin = $176,400 - $52,200

Contribution Margin = $124,200

5 0
3 years ago
Read 2 more answers
Suppose a firm that makes appliances merges with a company that produces running shoes, and it later also buys a dairy. what is
PolarNik [594]

This combination is called CONGLOMERATE MERGER. A conglomerate merger is the unification between firms or companies that are involved in business activities that are no way related to each other. The two types of conglomerate merger are PURE AND MIXED. Pure conglomerate involves companies with nothing in similarity. Whereas for mixed conglomerate, it involves companies that are looking for product or market extensions. 

 

<span> </span>

6 0
3 years ago
Other questions:
  • A long-time expert in your field who will guide and advise you in your start-up phase is called a/an
    6·2 answers
  • Opportunity cost refers to _________.a. current economic conditions. b. your personal values.c. trade-offs when a decision is ma
    12·1 answer
  • As a manufacturing firm builds a plant in Bolivia, it also has to build an airstrip so that it can get the building supplies and
    10·1 answer
  • Parent Corporation purchased land from S1 Corporation for $220,000 on December 26, 20X8. This purchase followed a series of tran
    9·1 answer
  • Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is
    9·2 answers
  • The following transactions of Acer Downyoccurred during 2018​:
    6·1 answer
  • The current average income for American households is approximately $56,000 per year. According to the reading
    5·2 answers
  • I know this is impossible but can you guys help? Doesn’t have to use fancy words and doesn’t have to be long, I’m not English na
    9·1 answer
  • What are the 5 characteristics of objectives
    11·2 answers
  • With reference to the communication process, the ________ is the medium through which the message travels
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!