Answer:
Investment in Trading Securities of $57,000
Explanation:
Based On the information given we were told that the FAIR MARKET VALUE of those investments totaled the amount of $57,000 which therefore means that As a result of these investments, Roger Company will report INVESTMENT IN TRADING SECURITIES of the amount of $57,000.
Answer:
Current SMA balance is $15,000
Explanation:
SMA means special memorandum account, where excess margin recouped from investing the fund in customer's margin account is held.
Since ABC was bought for $10,000, while it's current worth is $20,000
Margin recorded = $20,000 - $10,000
= $10,000
XYZ stock sells short at $10,000, while it's current worth is $5,000
Margin recorded on short sell
=$10,000 - $5,000
=$5,000
SMA current balance
= $10,000 + $5,000
= $15,000
important files should be backed up at minimum once a week,preferably once every 24 hours
Answer:
Net Income $12,400
Explanation:
Preparation of a corrected income statement.
GREENSTREAM INSURANCE Agency Income Statement For the Month Ended June 30
RevenuesService Revenue $42,000
[$40,000 +(20%* $10,000).]
Expenses:
Salaries and Wages Expense $17,300
($12,000 + $5,300)
Rent Expense 4,200
Depreciation Expense 3,300
($2,800 + $500)
Supplies Expense 2,800
($0 + $2,800)
Utilities Expense 1,200
($0 + $1,200)
Advertising Expense 800
Total expenses 29,600
Net Income $12,400
(42,000-29,600)
Therefore the net income for the corrected income statement will be $12,400
Answer:
Check the explanation
Explanation:
Journal entries (figures in million)
s.no Particulars Debit Credit
2 No entry on grant date
3 Compensation expenses (45/3) 15
paid in capital-restricted stock 15
4 Compensation expenses 15
paid in capital-restricted stock 15
5 Compensation expenses 15
paid in capital-restricted stock 15
6 paid in capital-restricted stock 45
common stock 5
paid in capital -excess of par 40
