Missing Statement Items, Trading Investments1. EX.15-01JED Capital Inc., makes investments in trading securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are2. EX.15-02shown in the income statement and balance sheet below:3. EX.15-03There were no dividends.Determine the missing items.4. EX.15-06JED Capital Inc.5. EX.15-08.ALGOSelected Income Statement Items6. EX.15-11.ALGOFor the Years Ended December 31, Year 2 and Year 3Year 2Year 37. EX.15-14.ALGOOperating Income$Unrealized Gain (Loss)(3,400)Net Income$23,800JED Capital Inc.Selected Balance Sheet ItemsDecember 31, Year 1, Year 2, and Year 3Dec. 31, Year 1Dec. 31, Year 2Dec. 31, Year 3Trading Investments, at Cost$209,200$248,200$292,500Valuation Allowance for Trading Investments(10,200)15,300Trading Investments, at Fair ValueRetained Earnings$246,600$326,300

Missing Statement Items, Trading Investments JED Capital Inc., makes investments in trading securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are shown in the income statement and balance sheet below: There were no dividends. Determine the missing items. JED Capital Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Operating Income Unrealized Gain (Loss) (3,400) Net Income $23,800 JED Capital Inc. Selected Balance Sheet Items December 31, Year 1, Year 2, and Year 3 Dec. 31, Year 1 Dec. 31, Year 2 Dec. 31, Year 3 Trading Investments, at Cost $209,200 $248,200 $292,500 Valuation Allowance for Trading Investments (10,200) 15,300 Trading Investments, at Fair Value Retained Earnings $246,600 $326,300 $

Missing Statement Items, Trading Investments JED Capital Inc., makes investments in trading securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are shown in the income statement and balance sheet below: There were no dividends. Determine the missing items. JED Capital Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Operating Income Unrealized Gain (Loss) (3,400) Net Income $23,800 JED Capital Inc. Selected Balance Sheet Items December 31, Year 1, Year 2, and Year 3 Dec. 31, Year 1 Dec. 31, Year 2 Dec. 31, Year 3 Trading Investments, at Cost $209,200 $248,200 $292,500 Valuation Allowance for Trading Investments (10,200) 15,300 Trading Investments, at Fair Value Retained Earnings $246,600 $326,300 $

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter2: Asset And Liability Valuation And Income Recognition

Section: Chapter Questions

Problem 21PC

See similar textbooks

Similar questions

JED Capital Inc. makes investments in trading securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are as follows: Please see the attachment for details: Determine the missing lettered items.
Missing Statement Items, Trading Investments JED Capital Inc., makes investments in trading securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are shown in the income statement and balance sheet below: There were no dividends. Determine the missing items. JED Capital Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Operating Income Unrealized Gain (Loss) (3,800) Net Income $26,300 Feedback Operating Income-Year 2: Do this after you have calculated requirements (Unrealized Gain (Loss)) and (Net Income). Then subtract (Unrealized Gain (Loss)) from (Net Income). Unrealized Gain (Loss)-Year 2: Year 2 valuation allowance minus Year 1 valuation allowance. Remember when you subtract a negative number the resulting effect is to add the amount. Net Income-Year 2: Year 2 retained earnings minus…
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement items for the years ended December 31, Year 2 and Year 3, plus selected items from comparative balance sheets, are as follows: There were no dividends. Determine the missing items. If required, use the minus sign to indicate a net or operating loss, unrealized losses, or a credit balance in the valuation allowance account. Highland Industries Inc. Selected Income Statement Items For the Years Ended December 31, Year 2 and Year 3 Year 2 Year 3 Operating Income (Loss) $fill in the blank a4e4cbfe902c023_1 $fill in the blank a4e4cbfe902c023_2 Gain (Loss) from Sale of Investments 6,250 (12,500) Net Income (Loss) $fill in the blank a4e4cbfe902c023_3 $(17,190) Feedback Highland Industries Inc. Selected Balance Sheet Items December 31, Year 1, Year 2, and Year 3 Dec. 31, Year 1 Dec.…
The following information is provided concerning the accounts of Jazzy Ltd .You are asked to identify how each of these items is shown in the financial statements. (a) gain on revaluation of available-for-sale investments (b) dividends paid during the year (c) revaluation gain on building (not reversing any previous revaluation) (d) transfer to dividend equalisation reserve (e) Unsecured notes issued
please answer parts 7, 8, and 9.
Hahah
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
please help me to solve this question
Do not give answer in image
Required: Determine the following measures for 20Y2, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year. Fill out the chart. Working capital Current ratio Quick ratio Accounts receivable turnover Number of days' sales in receivables days Inventory turnover Number of days' sales in inventory days Ratio of fixed assets to long-term liabilities Ratio of liabilities to stockholders' equity Times interest earned Asset turnover Return on total assets % Return on stockholders' equity % Return on common stockholders' equity Earnings per share on common stock Price-earnings ratio Dividends per share of common stock Dividend yield %
Please note, a chart is one part!
Presented below are the captions of Faulk Company’s balance sheet. Indicate where each of the following items would be classified. Balance Sheet Accounts Balance Sheet Classification 1. Preferred stock. 2. Goodwill. 3. Salaries and wages payable 4. Accounts payable. 5. Buildings. 6. Equity investments (to be sold within one year). 7. Current maturity of long-term debt. 8. Premium on bonds payable. 9. Allowance for doubtful accounts. 10. Accounts receivable. 11. Cash surrender value of life insurance. 12. Notes payable (due next year). 13. Supplies. 14. Common stock. 15. Land. 16. Bond sinking fund. 17. Inventory. 18. Prepaid insurance. 19. Bonds payable. 20. Income taxes payable.