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
coldgirl [10]
3 years ago
8

Hawk Corporation purchased 1,000 Diamond Corporation bonds in 2015 for $500 per bond and classified the investment as securities

available for sale. The value of the Diamond investment was $600 per bond on December 31, 2016, and $650 on December 31, 2017. During 2018, Hawk sold all of its Diamond investment at $700 per bond.If Hawk records unrealized holding gains and losses up to the moment of sale, what would be the amount of reclassification adjustment that Hawk would record upon sale?A) A debit of $50,000.B) A debit of $150,000.C) A debit of $200,000.D) A credit of $150,000.
Business
1 answer:
jonny [76]3 years ago
3 0

Answer: C) A debit of $200,000.

Explanation:

In 2018, Hawk sold all the Diamond Investment bonds at $700.

The amount of reclassification adjustment would be;

= Sales price - original purchase price

= (1,000 * 700) - (1,000 * 500)

= $200,000

The amount should be debited to reverse the gains recorded over the other years.

You might be interested in
Both a call and a put currently are traded on stock XYZ; both have strike prices of $45 and expirations of 6 months.
pychu [463]

Answer:

a. Profit to an investor who buys call for $4

a. $ -4

b. $ -4

c. $ -4

d. $ 1

e. $ 6

b. Profit to an investor who buys call for $6.5

a. $1.5

b. $6.5

c. $ -1.5

d. $ -3.5

e. $ -8.5

Explanation:

The call option is a derivative in which an investor buys an option to buy the asset at a certain price. The value of the call option is determined by maturity. The buyer of call option can buy an asset at a strike price before expiration date.

If the investor buys the call option for $4 then the $4 is an expense for the investor. The value of call will be -4 unless the stock price is above $50.  

If the investor buys the call option for $6.5 then the $6.5 is an expense for the investor. The value of call will be -6.5 unless the stock price is below $50.  

6 0
3 years ago
If you were charged $1152 in taxes on a $2560 purchase. What percent tax were you charged
katen-ka-za [31]

Answer:

Percent tax = 45%

Explanation:

Given:

Amount of tax charged = $1,152

Amount of purchase = $2,560

Find:

Percent tax

Computation:

Percent tax = [Amount of tax charged / Amount of purchase]100

Percent tax = [1152 / 2560]100

Percent tax = 45%

6 0
3 years ago
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The jou
Musya8 [376]

Answer:

The option (B) Debit Work in Process Inventory $72.000 credit Factory Wages Payable $172,000 is correct

Explanation:

Solution

Given that:

As the cost of labor was sustained as regards to processing the inventory and it was not completed, so debit the work in process of account.

There also exits a liability of paying labor charges for this it will be payable.

Hence credit factory wages payable.

For the other options they are crediting cash which is not yet paid, here the option A  and E is wrong.

For option D, they are crediting inventory which in this case is not correct due to the existence of a liability for paying labor fees.

The option D is wrong, because they debited with the cost of sold goods.

8 0
3 years ago
Suppose that the government of Ping's country hears of the working conditions and the country seizes the Quality Dragon plant wh
ella [17]

Answer: a. expropriation

Explanation:

Expropriation happens when privately owned property are forcefully taken by government for it to be used by the general public. It is an act of depriving people of their right to property, although expropriation is to the advantage of the general public. In most countries especially in the US expropriation occurs when there is a need to embark on certain infrastructural project such as airports, railroads, etc.

6 0
3 years ago
Having internet, catalog, and store offerings makes staples a(n) multiple choice full-line discount store. omnichannel retailer.
Eduardwww [97]

The correct answer is supercenter. Staples Inc. is an American retail company and is a supercenter.

With its corporate headquarters in Framingham, Massachusetts, Staples Inc. is an American retailer that provides goods and services that assist both learning and working. Over 1,000 Staples locations will offer same-day passport photo services in 2022, and a few will also offer TSA PreCheck enrollment.

Leo Kahn, Thomas G. Stemberg, and Myra Hart created Staples. In 1985, as Stemberg was preparing a proposal for a different company, he had the concept for Staples. He needed a ribbon for his printer but couldn't get one because his neighborhood store was closed for the Fourth of July. Because of his experience in the food industry and his aggravation with the need to rely on small shops for essential supplies, Stemberg had the idea for an office supply superstore.

Learn more about Staples here:

brainly.com/question/13988374

#SPJ4

8 0
2 years ago
Other questions:
  • _____ can simplify communication, improve business relationships, and offer new opportunities to both consumers and businesses.
    11·2 answers
  • What action can a supervisor take to reinforce the desired change and create a work environment that nourishes successful people
    5·1 answer
  • Buyers in country X prefer to use the older, cheaper version of Firm A's product although it is bulkier and less user-friendly.
    10·1 answer
  • In some areas, entrepreneurs can take advantage of _______ where they can lease low-cost office space and have access to office
    15·2 answers
  • Question 9 Suppose money invested in a hedge fund earns 1% per trading day. There are 250 trading days per year. What will be yo
    11·1 answer
  • Is the concentration ratio an accurate measure of the extent of​ competition?
    13·1 answer
  • A quality analyst wants to construct a control chart for determining whether three machines, all producing the same product, are
    5·1 answer
  • What are four ethical character traits
    8·1 answer
  • Give two examples of products sold in perfectly competitive markets and two examples of products sold in monopolistically compet
    8·1 answer
  • Tactical managers are often referred to as _____ managers
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!