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Nady [450]
3 years ago
12

On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $77 million at par and classified the securit

ies as available-for-sale. On December 31, 2021, these bonds were valued at $72 million. Nine months later, on October 3, 2022, Jefferson Corporation sold these bonds for $93 million.
As part of the multistep approach to record the 2022 transaction Jefferson Corporation should next take the second step of:________

a. Reversing total accumulated unrealized holding gains of $25 milion.
b. Reversing total accumulated unrealized holding gains of $18 milion
c. Reversing total accumulated unrealized holding gains of S7 million
d. Reversing total accumulated unrealized holding gains of $11 milion
Business
1 answer:
olga2289 [7]3 years ago
4 0

Answer:

a

Explanation:

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For the year ended December 31, a company had revenues of $187,000 and expenses of $109,000. $37,000 in dividends were paid duri
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Answer:

D) Debit income summary 187000, credit revenues 187000

Explanation:

When dividend is declared, following journal entry is passed

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As per the given information in the question, debiting income summary account with total revenues of $187000 would be wrong.

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James Dodgsen is a student in a graduate course in business. The professor in the course has given Dodgsen and his classmates a
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Answer:

d. Dodgsen has been dishonest.

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