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sveticcg [70]
3 years ago
6

On August 1, ABC Company sold its investment in Teal Company for $12,400. On the previous balance sheet, the investment had a fa

ir value of $11,400. The journal entry to record the sale will include a
Business
1 answer:
VladimirAG [237]3 years ago
5 0

Answer:

The journal entry to record the sale will include a,

<em>Cash $12,400 (debit)</em>

<em>Profit and Loss $1,000 (credit)</em>

<em>Investment in Teal Company $11,400 (credit)</em>

Explanation:

The Investment is carried in the the Financial statement at its Fair Value of $11,400, and this needs to be eliminated following the sale.

Recognize the cash proceeds following the sale of investment of $12,400.

Lastly any amount paid in excess of the Fair Value of the Investment must be recognized as profit or as loss (if fair value exceeds the cash proceeds)

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A+b+c=4<br> aa+bb+cc=10<br> aaa+bbb+ccc=22<br> aaaa+bbbb+cccc=???
WINSTONCH [101]

Answer:

46

Explanation:

The pattern appear to be the answer  multiplied by 2 and adding  2.

i.e., answer to the next raw id answer to the previous answer times 2 plus 2

second raw = (4 x 2) + 2= 10

Third raw = (10 x 2) + 2 = 22

Forth raw = (22 x 2) + 2= 46

3 0
2 years ago
Which of the terms or phrases listed below is more associated with financial statements prepared in accordance with U.S. GAAP th
nekit [7.7K]

Answer:

The answer is Accumulated other comprehensive income

Explanation:

The statement of  accumulated other comprehensive income is specific to U.S GAAP.It is known as statement of comprehensive under International Financial Reporting Standards.

The statement records losses and gains that are unrealized.For instance a company whose investment is in shares,would have to  record the investment at fair value, that is the market price at each year end, any gains or losses arising from such valuation,especially if the shares are held for long term, is posted to the accumulated other comprehensive income or statement of comprehensive income.

The reason is that the shares are still held within the business not yet disposed of,hence the gains or losses are not realized and should not be recognized in profit or loss.

4 0
3 years ago
Your team is consulting with a local manufacturing company that has 1,200 employees and is the third largest employer in the are
Vedmedyk [2.9K]

Answer:

how do you want me to answer this telll me how and i will answer it full as best to my ability

Explanation:

8 0
2 years ago
A company has a process that results in 1,300 pounds of Product A that can be sold for $13.00 per pound. An alternative would be
n200080 [17]

Answer:

If the company process further the units, income will decrease by $600.

Explanation:

Giving the following information:

A company has a process that results in 1,300 pounds of Product A that can be sold for $13.00 per pound.

An alternative would be to process Product A further for $13,600 and then sell it for $23.00 per pound.

We need to determine the result of further processing the product.

Sell as-is:

Effect on income= 1,300*13= $16,900 increase

Continue processing:

Effect on income= 1,300*23 - 13,600= $16,300

It is more profitable to sell the units before further processing.

8 0
3 years ago
1. The minimum age to receive a Class C drivers license is<br> A. 15<br> B. 16<br> C. 18
insens350 [35]
You would need to be at least 18 years old to hold a valid Ontario licence
4 0
3 years ago
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