company's acco Investment Colt Company stock Dana Company stock Date of Acquisition Cost 9/20/23 $38,000 10/2/23 14,000 Select one: O a. $800 loss What amount is reported for gain or loss on these securities in 2023 income? b. $1,000 loss c. No gain or loss Fair Value 12/31/23 Date Sold Selling Price $37,000 2/10/24 $42,000 14,200 1/17/24 13,000 O d. $3,000 gain

company's acco Investment Colt Company stock Dana Company stock Date of Acquisition Cost 9/20/23 $38,000 10/2/23 14,000 Select one: O a. $800 loss What amount is reported for gain or loss on these securities in 2023 income? b. $1,000 loss c. No gain or loss Fair Value 12/31/23 Date Sold Selling Price $37,000 2/10/24 $42,000 14,200 1/17/24 13,000 O d. $3,000 gain

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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View Policies Current Attempt in Progress Concord, Inc. paid $127000 to buy back 11000 shares of its $1 par value common stock. This stock was sold later at a selling price of $9 per share. The entry to record the sale includes a O credit to Paid-in Capital from Treasury Stock for $11000. O debit to Retained Earnings for $28000. O debit to Paid-in Capital from Treasury Stock for $127000. O credit to Retained Earnings for $11000. Save for Later Attempts: 0 of 1 used Submit Answer
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Subject: acounting
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Assets Liabilities Capital stock Retained earnings Total equities Assets Liabilities Capital stock Retained earnings Total equities Balance Sheet December 31, 2025 Skysong Company Balance Sheet December 31, 2025 $2040000 $210000 1020000 810000 $2040000 $1440000 $320000 970000 150000 $1440000 If Oriole Company acquired a 30% interest in Skysong Company on December 31, 2025 for $350000 and during 2026, Skysong had net income of $141000 and paid a cash dividend of $51000, applying the equity method would result in a debit balance in the Equity Investments (Skysong) account at the end of 2026 of O $392300. ○ $377000. ○ $350000. O $334700.
Acquirer Shares Outstanding Target Shares Outstanding Acquirer Share Price Target Share Price Stock Consideration Cash Consideration Share Issuance Discount Tax Rate 917,712 991,813 1,000,000 25,000 $5.00 $10.00 Given the following data, calculate the pro forma number of shares outstanding (Rounding to the closest whole number). 1,081,633 1,261,613 $400,000 $200,000 2% 25%
Balance Sheet Presentation of Available-for-Sale Investments During Year 1, its first year of operations, Galileo Company purchased two available-for-sale investments as follows: Security Shares Purchased Cost Hawking Inc. 860 $43,602 Pavlov Co. 2,330 61,512 Assume that as of December 31, Year 1, the Hawking Inc. stock had a market value of $60 per share and the Pavlov Co. stock had a market value of $48 per share. Galileo Company had net income of $337,400 and paid no dividends for the year ending December 31, Year 1. All of the available-for-sale investments are classified as current assets. a. Prepare the Current Assets section of the balance sheet presentation for the available-for-sale investments. Galileo Company Balance Sheet (selected items) December 31, Year 1 Assets Current Assets: $fill in the blank 6f30cb02405dfbc_2 Plus Unrealized Gain (Loss) on Available-for-Sale Investments fill in the blank 6f30cb02405dfbc_4 $fill…
pls answer a b and c