Answer:
Dr. Trading securities $4,800
Cr. Unrealized gain on trading securities $4,800
Explanation:
Trading securities are recorded reported on the fair market value. The gain or loss arise from the increase or decrease in the value of trading securities. There is a gain if the price of trading security increases and loss when the price of the trading security decreases. Unrealized gains are reported in the separate section of stockholders equity.
Gain on Trading securities = Fair value of security portfolio - Cost of security portfolio = $46,300 - $41,500 = $4,800
Answer:
Hometown cooking, A restaurant, is owned and operated be Mrs.Jones.
Explanation:
Have a nice day :3
Answer:
3.76 times
Explanation:
The computation of the asset turnover is shown below:
Asset turnover = Net sales ÷ Average total assets
= $1,356,504 ÷ $360,600
= 3.76 times
By dividing the net sales from the average total assets, the asset turnover could arrive i.e 3.76 times
This is the answer but the same is not provided in the given options