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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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What brief document should always include the six basic story elements?
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Answer: ?

Explanation: Did anyone get the answer

8 0
3 years ago
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Pizza Hut has Bread Sticks 6 for $2.50 and 1-topping pizzas at $12.99. How much is 24 breadsticks and 2-one topping pizzas with
julia-pushkina [17]

Answer:

Bread sticks: 6 × $2.50 = $15

Pizza: $12.99

$15 + $12.99 = $27.99

Tax: 7% = 0.07

$27.99 × 0.07 = $1.96 (approximate)

$27.99 - $1.96 = $26.03

hope this helped you!

3 0
3 years ago
The Davis-Bacon Act ________. a. increases the burden of proof on employers to rebut some discrimination claims b. requires that
frez [133]

Answer:

The correct answer is b. requires that mechanics and laborers on public construction projects be paid the prevailing wage in an area.

Explanation:

The Davis-Bacon Act is a law that affects the main contractors and subcontractors that work through construction contracts with the State or political subdivisions whose amount exceeds $ 2000. This law protects construction workers such as carpenters, plumbers, power equipment operators, workers, etc. Covered workers must receive at least prevailing wage levels and supplementary benefits for similar jobs in the same location. The prevailing wage levels and benefits are determined by the Alaska Department of Labor and must be included in the contract assignment and the announced specifications.

3 0
3 years ago
If you deposit $9000 into a bank account that pays 0.25% per month, what the amount your account will be worth after 2 years?
ICE Princess25 [194]

Answer:

$9,045.11.

Explanation:

The value of the investment, fv after 2 years can be determined as fallows :

PV = - $9000

Pmt = $0

r = 0.25%

n = 2 × 12 = 24

p/yr = 12

FV = ?

Using a financial calculator, the value of the investment, fv is $9,045.11.

5 0
3 years ago
At year-end, Yates Company estimates that $1,500 of its accounts receivable balance is uncollectible. Yates uses the allowance m
zimovet [89]

Answer:

debit to Bad Debts Expense and credit to Allowance for Doubtful Accounts

Explanation:

The journal entry needed to record the adjusting entry by using the allowance method is given below:

Bad debt expense    

                 To Allowance for doubtful debts

(Being bad debt expense is recorded)

Here the bad debt expense is debited as it increased the expense and credit the allowance as it decreased the assets

5 0
2 years ago
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