1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kumpel [21]
3 years ago
11

Jerome has insignificant influence of Melina Corporation because it owns less than 20% of the voting stock. The cost of the Meli

na stock is $5,000 and has a fair value of $6,000 on December 31 at the end of the first year it held the securities. Complete the necessary adjusting entry selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Business
1 answer:
quester [9]3 years ago
7 0

Answer:

Dec 31

Dr Fair value adjustment - stock $1,000

Cr Unrealized gain - Income $1,000

Explanation:

Preparation of the necessary adjusting entry

Based on the information given if The cost of the Melina stock was the amount of $5,000 in which it has a fair value of the amount of $6,000 on December 31 which means that the necessary adjusting entry will be :

Dec 31

Dr Fair value adjustment - stock $1,000

Cr Unrealized gain - Income $1,000

($6,000 - $5,000)

You might be interested in
Claremont Company specializes in selling refurbished copiers. During the month, the company sold 180 copiers at an average price
Bess [88]

Answer:

B

Explanation:

Since the average copier was sold $3000

Budgeted 175 copier was sold $3200

Therefore $3000+$3200= $6200

6200*180=$1116000

We subtract it from the 180*$3000=$54000

$1116000-$540000

=$576000

4 0
3 years ago
What is the margin of safety (in sales) when a business has sales of $485,000, sales of $225,000 at break-even point, and unit s
lilavasa [31]

Answer:

Margin of safety= $260,000

Explanation:

Giving the following information:

Sales= $485,000

Break-even point in dollars= $225,000

<u>To calculate the break-even point in sales dollars, we need to use the following formula:</u>

Margin of safety= (current sales level - break-even point)

Margin of safety= 485,000 - 225,000

Margin of safety= $260,000

5 0
3 years ago
A group of athletic shoes in a shoe factory are partially completed but still lack their innersoles and shoestrings. these shoes
gogolik [260]
<span>These would be work in-progress inventory. They are further along in production than the basic raw materials, but are not completed to the point where they could be put out for sale as finished goods. They are still requiring some work to get to this point.</span>
5 0
4 years ago
is the degree to which both businesses and customers believe that the pricing is reasonable. a. customer-led pricing b. fair pri
tester [92]

Answer:

Explanation:

no because arr jf does noot match it

4 0
3 years ago
Issued by corporations, these financial instruments fund their long-term financing requirements and have less risk than equity s
GalinKa [24]

These financial instruments, which firms issue to meet their long-term funding needs, have less risk than equity securities. also called municipal bonds.

<h3>What are municipal bonds?</h3>

Municipal bonds are a good option to think about if your main goal in investing is to keep your money safe while producing a stream of tax-free income. Governmental bodies can issue debt instruments called municipal bonds (munis). In exchange for a preset number of interest payments made over a predetermined time period, you are lending money to the issuer when you purchase a municipal bond. When that time period is up, the bond reaches its maturity date and you receive a full refund of your initial investment. to the issuer when you purchase a municipal bond. When that time period is up, the bond reaches its maturity date and you receive a full refund of your initial investment.

To know more about municipal bonds, visit:

brainly.com/question/3857790

#SPJ4

8 0
2 years ago
Other questions:
  • PC​ Solutions, Inc. provides services to corporate and individual customers. During the month of​ June, the corporate business s
    6·1 answer
  • What is the formula for determining productivity?!
    13·1 answer
  • Ezra is comparing two checking accounts. One has a monthly fee of $8 and a per-check fee of $0.20, and the other has a monthly f
    11·2 answers
  • [The following information applies to the questions displayed below.]
    14·1 answer
  • Cost structure ______. refers to how a cost will change as activity level changes is the relative proportion of each type of cos
    5·1 answer
  • Hall Corporation reported the following operating results for two consecutive years.
    10·1 answer
  • For an attributes sampling plan, the tolerable deviation rate is 4%, the computed upper deviation rate is 7%, the sample deviati
    15·1 answer
  • ABC, Inc. discounts a 5%, 9-month, $1,000 note with a financial institution after holding the note for 3 months. The note was re
    11·1 answer
  • In a recent annual report, Apple Computer reported the following in one of its disclosure notes: "Warranty Expense: The Company
    8·1 answer
  • Agreement and disagreement among economists
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!