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Evgesh-ka [11]
2 years ago
13

On October 12, 2006, Lowell Corporation invested $600,000 in short-term available-for-sale marketable securities. The market val

ue of this investment was $660,000 at December 31, 2006, but had slipped to $655,000 by December 31, 2007. 27. Refer to the above data. In financial statements prepared on December 31, 2006, Lowell Corporation reports: A) The asset Investments in Marketable Securities at $600,000, and a $60,000 Unrealized Holding Gain included in total stockholders' equity. B) The asset Investments in Marketable Securities at $660,000, and a $60,000 gain recognized in the income statement. C) The asset Investments in Marketable Securities at $600,000 with footnote disclosure of the market value of $660,000. D) The asset Investments in Marketable Securities at $660,000, and a $60,000 Unrealized Holding Gain included in total stockholders' equity.
Business
1 answer:
gavmur [86]2 years ago
6 0

Answer:

option D

Explanation:

In financial statements In balance sheet short term investment available for sale of securities should be reported on fair value of investment and unrealized gain or loss should be included in stockholder's equity.

so in this question 660,000 should be reported as asset investment in marketable securities and (660000-600000) = 60000 unrealized gain should be reported in stockholder's equity.

The asset Investments in Marketable Securities at $660,000, and a $60,000 Unrealized Holding Gain included in total stockholders' equity

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Answer:

A corporation                                      

Explanation:

A business is an agency–typically a group of individuals or a firm–allowed by the government to operate as a single body (a legal entity) and recognized as being for other functions of law.

Early constituted institutions were created by charter (i.e. through an arbitrary act issued by a sovereign or enacted by a statute or house of commons).

Corporations come in various forms but are typically separated by the statute of authority in which they are subcontracted on the grounds of two dimensions: that they are willing to issue securities or if they are founded to turn a profit.

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3 years ago
Preparing to pay for higher education can start in 9th<br> grade or earlier by...
Anton [14]

Answer:

Applying for grants

Explanation:

8 0
3 years ago
Sam, a citizen of Tennessee, files a suit in a Tennessee state court against United Sales Corporation, a Wyoming company that do
trasher [3.6K]

Answer: .The correct answer is a). the case is being heard for the first time.

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This cases are heard directly without any intermediary or appellate review.

8 0
3 years ago
Read 2 more answers
A company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest. the present value of an annuity fa
Anna [14]
The present value (PV) of an annuity of P equal periodic payments for n years at r% is given by:

PV=Pa_{n\rceil r}

where a_{n\rceil r} is the <span>present value of an annuity factor for n years at r%.

Given that </span>a<span> company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest and that the present value of an annuity factor for 6 years at 7% is 4.7665.

Then

40000=4.7665P \\  \\ P= \frac{40000}{4.7665} =8,391.90

Therefore, </span><span>the annual annuity payments equals $8,391.90</span>
6 0
3 years ago
Lopez Corporation incurred the following costs while manufacturing its product.
grandymaker [24]

Answer:

$358,150

Explanation:

Cost of goods manufactured is calculated in a Schedule of Manufacturing Costs as follows :

Cost of goods manufactured = Beginning Work In Process + Total Manufacturing Costs - Ending Work In Process

where,

Total Manufacturing Costs :

Materials used in product              $124,260

Depreciation on plant                     $69,650

Property taxes on plant                   $21,750

Labor costs of assembly-line        $120,570

Factory supplies used                     $25,810

Total                                               $362,040

therefore,

Cost of goods manufactured = $13,700 +   $362,040 - $17,590 = $358,150

8 0
3 years ago
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