Help me out with this question please

Culver Company has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for u

SIZIF [17.4K]

Answer:

unrealized loss (OCI) 500 debit

trading securities- wallace 5,200 debit

trading securities gordon 4.200 credit

trading securities - martin 1,600 credit

cash 66,300 debit

loss on investment 6,900 debit

trading securities - gordon 73,200 credit

--to record sale of gordon securties --

trading securities earnhart corp 53,800 debit

cash 53,800 credit

--to record purchase of earnhart--

unrelized loss(OCI) 7,100 debit

trading securities earnhart corp 3,700 credit

trading securities- wallace 3,400 credit

-- 2018 year-end adjustment--

Explanation:

gordon 77,600 - 73,200 = (4,100)

wallace 172,900 - 167,700 = 5,200

martin 63,500 - 65,100 = (1,600)

Total adjustment (500)

We will declare as other comprehensive incoem the unrealized loss of 500 dollar for the period

At sale date we compare the proceeds and the cost to check for the earning or losses:

1,500 shares x $45 each less 1,200 fees = 66,300

gordon shares book value (73,200)

loss on investment 6,900

Earnhart corp:

700 shares x $75 each plus 1,300 fees: 53,800

year-end adjusting 2018

earnhart 50,100 - 53,800 = (3,700)

wallace 61,700 - 65,100 = (3,400)

martin 167,700 - 167,700 = 0

unrealized loss (7,1 00)

3 0

3 years ago

If a seller notices he or she is not selling much of a particular product, he or she is most likely going to

MrRissso [65]

He is going to reduce the price of the item because it may because of the price and the demand rate that the item isnt selling.

8 0

3 years ago

Nichols Enterprises has an investment in 250 bonds of Elliott Electronics that Nichols accounts for as a security available for

sweet [91]

Answer:

The value per bond must be $1000

Explanation:

The reason is that the short term investments must be valued at current fair market value which is $1000 per bond today so the perceived value of the unit bond which is $1200 per bond is irrelevant here.

The amount recorded = Number of bonds * Current market value

The amount recorded = 250 * $1000 = $250,000

3 0

3 years ago

Points lying ______ the production possibilities curve are attainable but reflect less total output than can be produced.

hichkok12 [17]

Points lying inside the production possibilities curve are attainable but reflect less total output than can be produced.

Production is the process of combining various tangible and intangible inputs to produce something for consumption. It is the act of creating an output, goods, or services that are of value and contribute to an individual's benefit.

Production is the process of making, harvesting, or creating something, or the quantity of something manufactured or harvested. An example of production is the manufacture of furniture. An example of production is harvesting corn for food. An example of production volume is the production volume of corn.

Learn more about production here:brainly.com/question/16755022

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7 0

1 year ago

Tim writes a note to his boss to apologize for an embarrassing typo in a recent publication. At the end of the message, he promi

Oxana [17]

This is an example of shallow promise

5 0

3 years ago

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Help me out with this question please ​

Help me out with this question please