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
miv72 [106K]
2 years ago
15

giannis corporation purchases debt investments as trading securities at a cost of $150,000 on december 1. this is its first and

only purchase of such securities. on january 5, giannis corporation decides to sell a portion of its trading securities (costing $9,000) for $10,000 cash. the journal entry to record this sale would include a:
Business
1 answer:
trasher [3.6K]2 years ago
3 0

In a condition given above where the Giannis Corporation sells a proportion of its trading securities, costing $9,000, for an amount of $10,000, the journal entry of the transaction would include a gain of $1,000. Therefore, the option C holds true.

<h3>What is the significance of gains?</h3>

The gains of a business organization can be referred to or considered as the surpluses earned by a company from the extraordinary and indirect operations, which are unrelated to its normal business activities. Any such gains are recorded under ''Other Revenues'' Accounts of the firm.

Therefore, the option C holds true and states regarding the significance of gains.

Learn more about gains here:

brainly.com/question/23542346

#SPJ4

The question seems to be incomplete. It has been added below.

Giannis corporation purchases debt investments as trading securities at a cost of $150,000 on December 1. This is its first and only purchase of such securities. On January 5, Giannis corporation decides to sell a portion of its trading securities (costing $9,000) for $10,000 cash. The journal entry to record this sale would include a:

A. Loss of $10,000

B. Gain of $10,000

C. Gain of $1,000

D. Gain of $9,000

You might be interested in
Find the sum of 2x kg and 5x g. Give the answer in grammes.​
maksim [4K]

Answer: 3,600 g

Explanation:

7 0
3 years ago
The shape of Spain's production possibilities frontier (PPF) should reflect the fact that as Spain produces more digital cameras
Vilka [71]

Answer:

Remain constant.

Explanation:

As Spain produces more digital cameras and fewer camcorders, the opportunity cost of producing each additional digital camera <u>remain constant. </u>

Production possibility frontier is a curve that show how different combination of product are produced using limited resources. It demonstrate that how production of one goods need to be decreased to produce higher number of other goods.  

Opportunity cost is constant, as tradeoffs are the same regardless of where you are on the line, same slope at any point.

4 0
3 years ago
The closing entry process consists of closing:A)all asset and liability accounts.B)out the Retained Earnings account.C)all perma
allochka39001 [22]

Answer:

D.) All the temporary accounts

Explanation:

The closing entry process closes or "zeroes out" the temporary accounts and transfer their balances to the retained earnings account.

Theses temporary accounts are closed or reset at the end of every year. Companies also call this as the closing of the books.

Temporary accounts includes:

1. Revenue & Gain Accounts

2. Expenses & Losses Accounts

3. Dividends & Withdrawal Accounts

4. Income Summary accounts (if used)

8 0
3 years ago
Macrosoft Company reports net income of $61,000. The accounting records reveal depreciation expense of $76,000 as well as increa
melamori03 [73]

Answer:

Cashflow from Operating Activities                  $

Net income                                                         61,000

Add: items not involving movement of cash

Depreciation                                                    <u>76,000</u>

                                                                          137,000

Changes in working capital:

Increase in prepaid rent                                   (56,000)

Increase in accounts payable                           <u>11,000</u>

                                                                            92,000

Less: Tax                                                           <u>  16,000</u>

Cashflow from operating activities                   <u> 76,000</u>

Explanation:

Cashflow from operaing activities  using the indirect method equals net income plus depreciation minus increase in prepaid rent plus increase in accounts payable minus tax.

4 0
3 years ago
THREE reasons except politics for the looting of shops,malls and the destruction of business property in GAUTENG and KwaZulu Nat
Helga [31]

Answer:

poverty,lack of AQ,others do it for fun

8 0
2 years ago
Other questions:
  • Total Accounting has developed new software for nonprofit organizations that allows them to send donors receipts via text or ema
    13·1 answer
  • Scenario 10 Suppose that in Country A, one worker per day can produce either 120 units of food or 50 units of capital goods; whi
    6·1 answer
  • Because investors are often unwilling to buy stock in a company without any
    10·1 answer
  • Robert White will receive cash flows of $4,450, $4,775, and $5,125from his investment. If he can earn 7 percent on any investmen
    6·1 answer
  • Which of the following is not a type of bank? A. Credit Union B. Online Bank C. Payday Lender D. Retail Bank
    10·2 answers
  • Mini’s ice cream stand offers different combinations of premium flavors, cones, and toppings to create hundreds of extravagant,
    9·2 answers
  • Delux Technologies makes and sells only one product, a high-quality processor for mainframe computers. Delux was recently approa
    13·2 answers
  • During July, Whitman paid $189,600 to employees for 8,900 hours worked. 4,760 units were produced during July. What is the direc
    6·1 answer
  • Marc and Michelle are married and earned salaries this year of $69,200 and $13,950 respectively. In addition to their salaries,
    5·1 answer
  • Which organization or agency assists the fire department by alerting the public of traffic incidents or evacuations?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!