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larisa [96]
3 years ago
14

Culver Company has a stock portfolio valued at $3,500. Its cost was $2,700. If the Fair Value Adjustment account has a debit bal

ance of $140, prepare the journal entry at year-end. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
Ilya [14]3 years ago
8 0

Answer:

Dr Fair Value Adjustment (Available-for-Sale) $660

Cr Unrealized Holding Gain or Loss—Equity $660

Explanation:

Culver Company Journal entry

Dr Fair Value Adjustment (Available-for-Sale) $660

Cr Unrealized Holding Gain or Loss—Equity $660

Fair Value Adjustment (Available-for-Sale)

Debit Balance $140

Adjustment $660

($3,500-$2,840)

Balance 800

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8 0
3 years ago
Below are several amounts reported at the end of the year. Currency located at the company $ 950 Supplies 2,800 Short-term inves
choli [55]

Answer:

$17,350

Explanation:

Calculation to determine the amount of cash to report in the balance sheet.

Currency located at the company $950

Add Short-term investments that mature within three months 1,850

Add Balance in savings account 8,100

Add Checks received from customers but not yet deposited 550

Add Coins located at the company 100

Add Balance in checking account 5,800

Total Cash $17,350

Therefore the amount of cash to report in the balance sheet is $17,350

8 0
3 years ago
When unemployment is high, government policymakers might decide to do which of the following?
dedylja [7]

Answer:

Option C is correct.

Explanation:

The option is C, “Increase government spending on goods and services” is correct because the spending by the government will create new employment opportunities. Therefore, this will decrease unemployment. However, if the government decreases the loan funds in the economy, decreases the spending on goods and services, and rises the taxes then it will raise unemployment in the economy.  

8 0
4 years ago
Qualified Retirement plans must provide a written Investment Policy Statement. Under ERISA interpretations, all of the following
mariarad [96]

Answer:

D: a list of the actual securities in the portfolio

Explanation:

Under Employee Retirement Income Security Act of 1974 (ERISA) interpretations, the details of risk, time horizon, target asset mix, investment goals and objectives, and guidelines for review are among the items which must be disclosed in the statement. A list of the specific investments in the plan is not a required disclosure.

7 0
3 years ago
Prepared journal, prepared t account, prepared trial ballance
Juliette [100K]

The journal entries are made as follows and t-accounts and Trial balance is made.

<h3 /><h3>What is Accounting?</h3>

Accounting is the calculation of debit and credit, this includes the finance calculations of a business. Accounting have five major accounts known as Capital, Income, expense, Liabilities and Assets.

A. DR Cash 14100

DR Furniture  5200

CR Capital 19300

B. DR Rent expense 1500

CR Cash 1500

C. DR Office Supplies 900

CR Accounts Payable 900

D. DR Salary Expense 1700

CR Cash 1700

E. DR Accounts Payable 700

CR Cash 700

F. DR Accrued Income 5900

CR Services 5900

G. DR Capital 6700

CR Cash 6700

T accounts are made by the name of a certain account and debiting or crediting the effecting account.

Trial Balance

Cash 4200

Furniture 5200

Capital 12600

Rent expense 1500

office supplies 900

Salary expense 1700

Accounts payable 200

Services (COGS) 5900

Accrued Income 5900

Learn more about Journals at brainly.com/question/26998490

#SPJ1

5 0
2 years ago
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