DateMar. 2, Year 2CashAccount NameOct. 1, Year 2Dividend RevenueTo record dividends received.CashInvestment in StockGain on Sale of InvestmentTo record sale of investment.Dec. 31, Year 2 Unrealized Gain or Loss-IncomeFair Value Adjustment--Equity SecuritiesTo adjust the FVA account.< <Dr.Cr.1,040001,0404,000003,200080000 x00 xe. Indicate items and amounts that should be reported on the Year 2 income statement and year-end balance sheet.Note: Use a negative sign to indicate a loss.Income StatementOther Revenues(Expenses)Dividend revenueYear 21,040Net gain (loss) on equity securities0 xBalance Sheet, Dec. 31, Year 2AssetsInvestment in equity securitiesCheck45,120

Dividend Revenue: $1,040 (This is the amount received from dividends.)Net gain (loss) on equity…

Answered: Date Mar. 2, Year 2 Cash Account Name…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 15MC: Stockholders equity consists of which of the following? A. bonds payable B. retained earnings and...

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am. 62.
Presented here are the financial statements of Sunlard Cornpany.SINI.AND COWANYConvaratWeD«rnber 31CashAccounts receivableInventccyProperty. plant. equipmentAccumu lated depreciationTotalLiabilities and Stockholders' EquityAccounts payableIncome taxes payableBonds payableCommon stockRetained earningsTotal537.400329003060059.700(29.100)"31500S2&3007.50027.9001860049.200S1315002021S20.soo20.00077.900(23500)S113000s 16.5003280014.20041300Silaooo
6. Unrealized gains and losses on investments in trading securities are reported a. as a current assetb. on the income statementc. on the balance sheet as part of stockholders' equityd. as a contra asset
The equity method of accounting for investments requires a.the investment to be increased by the reported net income of the investee b.the investment to be reported at its original cost c.a year-end adjustment to revalue the stock to lower of cost or market d.the investment to be increased by the dividends paid by the investee
13. For available-for-sale equity securities, receipt of a cash dividend would be reported as a. a reduction from retained earningsb. an increase in the investments available for sale accountc. a reduction in the investments available for sale accountd. dividend revenue
How is the year-end balance of the NCI in Net Income (NCINI) account calculated? O A) NC1% of S's book/reported net income - NCI's % of Amort of Differential. B) NCI% of S's book/reported net income - NCI's % of Amort of Differential - NCI's% of S's dividends. C) NCI% of S's book/reported net income + NCI's % of Amort of Differential. D) NC1% of S's book/reported net income - NCI's % of Amort of Differential + NCI's% of S's dividends.
How is the year-end balance of the NCI in Net Assets (NCINA) account calculated? A) Beginning-of-year NCINA + NCI's% of S's reported net income - NCI's % of Amort of Differential - NCI's% of S's dividends. B) Beginning-of-year NCINA – P's % of S's reported net income + P's % of Amort of Differential + P's % of S's dividends. C) Beginning-of-year NCINA – NCI's% of S's reported net income + NCI's % of Amort of Differential - NCI's% of S's dividends. D) Beginning-of-year NCINA + P's% of S's reported net income - P's % of Amort of Differential - P's% of S's dividends.
View Policies Current Attempt in Progress Retained earnings is increased by each of the following except O prior period adjustments. O some disposals of treasury stock. Chall of these increase retained earnings. O net income. eTextbook and Media Save for Later Attempts: 0 of 2 %23 24 2 3 4. 8 W e y h a
At December 31, 2024, Hull-Meyers Corporation had the following investments that were purchased during 2024, its first year of operations: Trading Securities: Amortized cost Fair Value Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals $ 900,000 105,000 $ 1,005,000 $ 700,000 900,000 $ 1,600,000 $ 490,000 615,000 $ 1,105,000 $ 910,000 100,000 $ 1,010,000 $ 780,000 915,000 $ 1,695,000 $ 500,000 610,000 $ 1,110,000 No investments were sold during 2024. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Required: Complete the following table. Note: Amounts to be deducted should be indicated with a minus sign.
Sh4
Accounting type Question: Securities premium reserve account is shown on the liabilities side in the balance sheet under the heading A. Reserves and surplus B. Current liabilities and provisions C. Share capital D. All of these
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