lease clarify which list of accounts I can use. List of Accounts Assistance Used Accumulated Other Comprehensive Loss Allowance for Doubtful Accounts Allowance to Reduce Inventory to Market Bad Debt Expense Bonds Payable Cash Call Option
lease clarify which list of accounts I can use. List of Accounts Assistance Used Accumulated Other Comprehensive Loss Allowance for Doubtful Accounts Allowance to Reduce Inventory to Market Bad Debt Expense Bonds Payable Cash Call Option
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
please clarify which list of accounts I can use.
List of Accounts
Assistance Used
- Accumulated Other Comprehensive Loss
- Allowance for Doubtful Accounts
- Allowance to Reduce Inventory to Market
Bad Debt Expense- Bonds Payable
- Cash
- Call Option
- Common Stock
- Cost of Goods Sold
- Debt Investments
- Dividend Revenue
- Dividend Receivable
- Equity Investments
- Fair Value Adjustment
- Futures Contract
- Gain on Sale of Investments
- Gain on Settlement of Call Option
- Gain on Settlement of Put Option
- Interest Expense
- Interest Receivable
- Interest Revenue
- Inventory
- Investment Income
- Loss on Impairment
- Loss on Sale of Investments
- Loss on Settlement of Call Option
- Loss on Settlement of Put Option
- No Entry
- Notes Payable
- Paid-in Capital in Excess of Par - Common Stock
- Put Option
- Recovery of Loss from Impairment
- Retained Earnings
- Revenue from Investment
- Sales Revenue
- Swap Contract
- Unrealized Holding Gain or Loss - Equity
- Unrealized Holding Gain or Loss - Income
Date | Account title and explanation | Debit | Credit |
Situation 1: Oriole Cosmetics | |||
18-3-2020 | Available for sale securities (191,000*10%*$14) | $267,400 | |
Cash | $267,400 | ||
(To record acquisition of shares in Martinez Fashion as an investment) | |||
30-6-2020 | Cash | $6,920 | |
Dividend ($69200*10%) | $6,920 | ||
(To record dividend income ) | |||
31-12-2020 | Fair value adjustment | $19,100 | |
Unrealized holding gain or loss - Income (19,100*$1 ($15-14) | $19,100 | ||
(to record fair value adjustment as indifference in market price and purchase price) | |||
Situation 2: Waterway, Inc | |||
1-1-2020 | Investment in Seles corporation (28500*40%*$9) | $102,600 | |
Cash | $102,600 | ||
(To record investment made by the purchase of shares in Seles corporation ) | |||
15-6-2020 | Cash ($38100*40%) | $15,240 | |
Investment in Seles corporation | $15,240 | ||
( To record dividend income received from investment) | |||
31-12-2020 | Investment in Seles corporation ($78200*40%) | $31,280 | |
Revenue | $31,280 | ||
(To record share in net income reported by seles corporation) |
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