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
MA_775_DIABLO [31]
2 years ago
5

During 2017, jackson company purchased 17,000 shares of monticello corp. Common stock for $382,500 as a passive interest investm

ent. The fair value of these shares was $373,150 at december 31, 2017. Jackson sold all of the monticello stock for $27.25 per share on july 3, 2018, incurring $15,000 in brokerage commissions. Jackson company should report a realized gain on the sale of stock in 2018 of:_________.
A. $65,750.
B. $75,100.
C. $80,750.D. $90,100.
Business
1 answer:
jekas [21]2 years ago
5 0

Answer:

Explanation:

Other comprehensive income for 2017

The fair value of these shares - Common stock

=  $373,150 -  $382,500

= -$9,350

Jackson sold all of the monticello stock for $27.25 per share:

$27.25*17,000 = $463,250

Commission : ($15,000)

Net proceeds: $448,250

Acquisition     ($382,500 )

Gain on sale    $65,750

The joural entry is:

Cash                  $448,250

  • OTI (loss)                    $9,350
  • Holmes shares         $373,150
  • Gain on sale             $65,750

               

You might be interested in
Voluntary exchanges happen when both parties expect to
zimovet [89]
Voluntary exchanges happen when both parties expect to receive a gift that is better than the gift they already gave to somebody.


If your in K12, the answer is gain.


5 0
2 years ago
Give me atleast 2 question about mice industry
kondor19780726 [428]

Answer:

1.How has the growing economy contributed to the growing mice industry?

2.Why does nobody know the size of mice market?

5 0
2 years ago
Read 2 more answers
When meeting a CEO whom he hoped to win over as a new client, James, dressed in an Armani suit, introduced himself from across h
Alexxandr [17]

Answer: Wearing high status clothing

   

Explanation: In simple words, Non verbal communication refers to the act of making any remark or statement without using language. It could be done by using body posture, dressing sense or eye contact etc.

In the given case, James tried to persuade his clients by showing that he belongs to the high class of the society and maintains a high status. He did so by wearing the expensive clothes. Such persuation will result in perception that James is hardworking and trusted.

Hence from the above we can conclude that the correct option is B.

5 0
3 years ago
Read 2 more answers
How would life be without technology
Ghella [55]

This website would not exist. Social lives would improve because everyone would actually hang out with people. We would not be able to get places fast because cars would not be developed.

4 0
3 years ago
Pls help!!! will give brainly!!!
enyata [817]

Answer:

I believe this would be in the Engineering and technology pathway.

Explanation:

Examples of someone in a engineering and technology pathway are people like Biomedical engineers so it makes sense!

6 0
2 years ago
Other questions:
  • One year ago Lerner and Luckmann Co. issued 15-year, noncallable, 7.5% annual coupon bonds at their par value of $1,000. Today,
    15·1 answer
  • The benefits a worker receives from an employer typically include
    6·1 answer
  • Nonprice rationing devices are required
    12·1 answer
  • The population of a country has a relative growth rate of 3% per year. The government is trying to reduce the growth rate to 2%.
    11·1 answer
  • Farmer Elvin is holding 200 pounds of potatoes in storage for Chef Noble, but Chef Noble has breached the contract by failing to
    5·1 answer
  • Jackson Corporation owns 10% of the voting stock of Kettering Company and has been reporting it as an equity investment with no
    8·1 answer
  • Goodnight y’all ! I just wanted to tell y’all that
    7·2 answers
  • Marion Cosmetics decides to launch a cream with a claim that it makes skin "10 times smoother and reduces wrinkles by 90%. The c
    6·1 answer
  • Suppose that Toyota operates two large plants: one in Japan and one in the United States. In the Japanese plant it takes Toyota
    5·1 answer
  • A machine has a cost of $15,000, an estimated residual value of $3,000, and an estimated useful life of four years. The machine
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!