The journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.
Given that Slick Rocks management purchased the Sandstone stock for the trading securities portfolio instead of the available-for-sale securities portfolio.
We are required to form the journal entry that are required by the facts presented in the case.
A journal is basically a detailed account which records all the financial transactions of a business to be used for the future reconciling of accounts.
The journal entry will be as under:
Securities account debited and bank account credited. If we know that which security is being purchased then we can name that securities also.
Hence the journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.
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Answer:
True
Explanation:
Banks use a type of check used to pay bills or make payments for which the money is guaranteed
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Answer:
$ 193,000
Explanation:
Ordinary Income means the money earned from working. The ordinary income may include hourly salaries and wages, commissions, interest income, from bonds, capital gains, royalties or income from ordinary course of business.
So the ordinary income for Jolly Partnership is:
Income from clients $ 190,000
Capital gains $ 1,000
Dividend Income $<u> 2,000</u>
Ordinary Income: $<u> 193,000</u>
When the opportunity cost associated with increasing the production of one good or service in terms of another is constant at every level of production, then the production possibility frontier is Linear.
Opportunity costs address the potential advantages that an individual, financial backer, or business passes up while picking one option over another. Since opportunity costs are inconspicuous by definition, they can be barely noticeable.
Opportunity Costs= Absolute Income - Monetary Benefit.
The Production Possibility Frontier (PPF) is a bend on a chart that shows the potential amounts that can be delivered for two items if both rely on a similarly limited asset for their production. The PPF is additionally alluded to as the creation probability bend.
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