20231213

Chapter 15 McDaniel Corporation manufactures surveying equipment. Journalize the entries to record the following selected equity investment transactions completed by McDaniel during 2019: February 26 Purchased for cash 1,350 shares of Demon Inc. stock for $70 per share plus a $75 brokerage commission. April 16 Received dividends of $0.75 per share on Demon Inc. stock. June 18 Purchased 600 shares of Demon Inc. stock for $68 per share plus a $50 brokerage fee. August 19 Sold 1,500 shares of Demon Inc. stock for $72 per share less a $100 brokerage commission. McDaniel assumes that the first investments purchased are the first investments sold. November 14 Received dividends of $0.44 per share on Demon Inc. stock.

Problem 1 about Trading Securities Bank National investment manager invests some of its financial resources in securities trading. During the last quarter of 2018, the following transactions took place in connection with trading securities. Nov. 5. Buy 200 shares of M Company's ordinary shares for $ 86 per share.Nov 19. Buy 300 shares of Company P preferred stock at $ 63 per share.Dec 29 Sold 100 shares of Company M's ordinary shares for $ 89 per share.Dec. 15. Buy 400 shares of T Company common stock for $ 37 per shareDec 17 Company P shares are sold at preference shares at $ 62 per share As of December 31, 2010, the stock market value was as follows:M, $ 87 per share;P, $ 61 per share; andT, $ 37.25 per share.The bank did not have any trading effects at the beginning of the last quarter of 2010. Requested:1. Prepare a journal entry to record the information.2. Show what the bank reported in the 2010 fourth quarter profit and loss statement for these trading securities.3. Show how the…

Financial accounting question

Solve this question general Accounting

Subject: auditing and assurance concepts and applications

Need some assitance solving

Find the Return on Stockholders equity  Find the Return on common stockholders equity  look at the pictures, then answer the questions, thanks in ad

6

The qualitative characteristics of relevance, reliability, and comparability identified in the IASB's framework for the preparation and presentation of financial statements ( Framework) are some of the attributes that make financial information useful to the various users of financial statements. Required: Explain what is meant by relevance, reliability, and comparability and how they make financial information useful.

In column A, identify the account to which element it belongs whether Current Asset (CA), Noncurrent Assets (NCA), Current Liabilities (CL), Noncurrent liabilities (NCL) or Shareholders’ equity (SHE). In column B, indicate the line item to which the account belongs.                                                                     Column A                                 Column B1. Share Capital2. Accounts Payable 3. Plant Expansion Fund4. Trading Securities 5. Employees income tax payable6. Goodwill 7. Raw Materials8. Share Premium 9. Advances from customers 10. Serial bonds not collectible currently 11. Investment in Bonds 12. Notes Payable 13. Prepaid Insurance 14. Income Tax Payable 15. Land

Provide correct answer general accounting question

Exercise 11-5 (Static) Identify information used in an investment decision Look forward to the day when you will have accumulated $5,000, and assume that you have decided to invest that hard-earned money in the common stock of a publicly owned corporation.Required: What data about that company will you be most interested in? How will you arrange those data so they are most meaningful to you? What information about the company will you want on a weekly basis, on a quarterly basis, and on an annual basis? How will you decide whether to sell, hold, or buy some more of the firm's stock?

What is the correct balance of TOTAL SHARE PREMIUM on December 31, 2021?

I got the first two parts, but could you explain to me how to find part C?

Assessing Financial Statement Effects of Trading and Available-for-Sale Securities Use the financial statement effects template to record the following four transactions involving investments in marketable securities.  Purchased 6,000 common shares of Liu, Inc., at $12.25 cash per share. Received a cash dividend of $1.50 per common share from Liu. Year-end market price of Liu common stock is $11.25 per share. Sold all 6,000 common shares of Liu for $66,300.  Use negative signs with answers, when appropriate.   Balance Sheet Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital   (1) Answer   Answer   Answer   Answer   Answer   (2) Answer   Answer   Answer   Answer   Answer   (3) Answer   Answer   Answer   Answer   Answer   (4) Answer   Answer   Answer   Answer   Answer     Income Statement Revenue - Expenses = Net Income Answer   Answer   Answer Answer   Answer   Answer

Please answer the following requirements on this general accounting question

Hello teacher please help me this question

Objective: As an accounting student enrolled in the Advanced Accounting course, this assignment aims to apply your theoretical knowledge to practical examples from the financial statements of George Weston Limited (GWL) or any other Public Canadian Company from the last four to five years. By analyzing specific aspects of the financial statements, you will demonstrate proficiency in understanding and interpreting accounting principles related to business combinations, consolidation of non-wholly owned subsidiaries, intercompany transactions, joint ventures or special purpose entities, and foreign currency transactions. Assignment Details: Select any of the annual reports of George Weston Limited or Any other Public Canadian Company from the last four to five years. Identify and analyze examples from the financial statements that demonstrate your understanding in at least four of the following topics: 1. Business Combination 100% acquisition 2. Consolidation of Non-Wholly Owned…

Identify information used in an investment decision Look forward to the daywhen you will have accumulated $5,000, and assume that you have decided to investthat hard-earned money in the common stock of a publicly owned corporation. Whatdata about that company will you be most interested in, and how will you arrangethose data so they are most meaningful to you? What information about the company will you want on a weekly basis, on a quarterly basis, and on an annual basis?How will you decide whether to sell, hold, or buy some more of the firm’s stock?

Short-term investments accountants must report on the balance sheet (depending on circumstances) are: Available-for-sale securities or intangible assets. Trading securities or available-for-sale securities. Held-to-maturity investments or trading securities. Inventory or trading securities.   Your company purchases a 60% share in ABC Corporation. As the accountant, how do you treat the revenue, expense, assets and liabilities of ABC Corporation? Depreciate the assets minus revenue on the balance sheet. These are ignored by the investor company. Combine the revenue, expenses, assets and liabilities with that of the investor company. Proportionately recognize in the investor company’s income statement.   How would an accountant record a written promise-to-pay from a customer? It would be recorded as a Loan on the company’s financial statements. It would be noted in a footnote on the Income Statement. It would be recorded as Note receivable on the company’s…

12. To which Organizations must a company report their financial results sells its stock on the organized stock market? a. American Institute of Certified Public Accountants (AICPA) b. Financial Accounting Standards Board (FASB) c. International Accounting Standards Board (IASB) d. Securities and Exchange Commission (SEC)