Answer:
Investment in bonds= 4,300,000
loss on investments (6,100,000-4,300,000= 1,800,000)
The unrealized holding loss ($1,800,000) on transfer to a new category of trading securities is included in income.
Explanation:
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Answer:
a. $22,500
Explanation:
The computation of the depreciation expense using the straight line method is shown below:
= (Original cost - salvage value) ÷ (useful life)
= ($750,000 - $75,000) ÷ (10 years)
= ($675,000) ÷ (10 years)
= $67,500
In this method, the depreciation is same for all the rest of the useful life
Now for 4 months, it would be
= $67,500 × 4 months ÷ 12 months
= $22,500
The four months is calculated from January 1 to May 1
Answer:
c. Jane grandparents cannot claim her as a dependent because Jane provided more than half of her own support.
Explanation:
Based on the information given the statements regarding the dependency rules for Jane that is true is Jane grandparents cannot in any way claim Jane as a dependent reason been that Jane provided more than half of her own support due to the fact that she her s total support for is the amount of $30,000 which as well include a scholarship of the amount of $5,000 to help cover tuition in which Jane used the amount of $12,000 of her savings while her grandparents on the other hand only provided the amount of $13,000 out of the Total support of $30,000.
Answer:
Explanation:
The adjusted journal entry is shown below:
Unearned rent revenue A/c Dr
To Rent revenue A/c
(Being the adjusted entry of rent is recorded)
The computation of the rent revenue is shown below:
= Received amount × number of months ÷ (total number of months in a year)
= $32,400 × (5 months ÷ 12 months)
= $13,500
The 5 months is calculated from August 1 to December 31
Explanation:
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