On December 31, 2020, the trading securities for Paul Company are as follows: Security Cost Fair Value AXZ $116,000 $120,000 BKY 134,000 132,000 $250,000 $252,000 Prepare the adjusting entry on December 31, 2020, to report the securities at fair value.
Q: Sonia Enterprises
A: Explanation of Sales RevenueSales revenue is the total income a business earns from selling goods or…
Q: Solution to this question
A: Explanation of Direct Labor StandardsDirect labor standards represent the expected amount of time…
Q: A company has a provision for long service leave for $35,000. In the same year, the company paid out…
A: A. What is the amount of the temporary difference?The temporary difference arises when there is a…
Q: Question: General Account Wiacek Corporation has received a request for a special order of 5,100…
A: To determine the effect of the special order on the company's overall net operating income, we must…
Q: Curly and Rita are married, file a joint return, and have two dependent children, ages 11 and 13.…
A: 1. Determine the phase-out threshold:For married couples filing jointly in 2015, the threshold was…
Q: I won't this question solution please provide correct answer not use ai..
A: The preferred stockholders' total dividend can be calculated by first figuring out the annual…
Q: Give true answer the financial accounting question
A: Step 1: Define Corporate BondsCorporate bonds are debt instruments designed to give lenders the…
Q: Expert of Account solve this ASAP
A: Step 1: Understand the LCM RuleThe LCM rule requires inventory to be reported at the lower of:Cost:…
Q: Alvin purchase 1,500 shares of a stock for solving general accounting question
A: The problem requires the determination of the annual rate of return. A rate of return (RoR) is the…
Q: Solve this financial accounting question answer do fast
A: Step 1: Define Preferred StockPreferred stock is a security that offers investors fixed dividends…
Q: posting in general account
A: Step 1:Inventory valuation method of lower of cost and net realisable value, valued inventory at the…
Q: Provide correct answer the accounting question
A: Step 1: Define Capital GainAny financial securities such as stock, mutual fund, bond, real estate is…
Q: Please help tutor
A: Explanation of Temporal SequencingTemporal sequencing refers to the process of recording…
Q: Mastery Problem: Activity-Based Costing WoolCorp WoolCorp buys sheep's wool from farmers. The…
A:
Q: 00 16.67% 25.00% 400.00% 600.00% 13 A company reported net sales revenue of $6,000,000 for the year…
A: Profit margin on sales is calculated by dividing the net income by the sales revenue and multiplying…
Q: Account Tutor help me
A: Step 1: Analyze Each Inventory ItemWe calculate LCM by comparing the cost and the market value for…
Q: the first example #3 and #4 are incorrcet. im submitting the problem again with blank boxes.
A: To correct the error, let's follow the given steps and adjust for the correct cost, depreciation,…
Q: None
A: Option d) is correct because stakeholder impact analysis is important and financial reporting must…
Q: Explain in short details and give proper answer for this[Account] questions.
A: Key Information from the Question:Pretax Accounting Income: $200 millionPermanent Difference…
Q: Merchandise inventory involves assets held for sale in the ordinary course of business of wholesale…
A: Inventory is considered a current asset and is valued at $150,000 in Airbnb's balance sheet for the…
Q: The anticipated purchase of purchase of a fixed asset for $400,000, with a useful life of 5 years…
A: The key information provided in the problem statement is:The fixed asset purchase is for $400,000The…
Q: How do you solve for the present value of face value in excel, and which cell refrences do you use?
A: The present value (PV) is the current worth of a future sum of money or stream of cash flows given a…
Q: answer
A: Explanation of Production Rate: This represents the number of units (boards in this case) that can…
Q: I don't need ai answer general accounting questions
A: Step 1: Define Operating ActivitiesOperating activities can be defined as the transactions that are…
Q: I need solution
A: Explanation of Days Sales Outstanding (DSO):DSO is a financial metric that measures the average…
Q: Question:(Account) 21-59 A company has a capacity of 200,000 units. They are currently producing and…
A: Step 1: Incremental RevenueThe revenue from the special order is: Revenue=Order…
Q: I need correct answer general accounting
A: Step 1: Define Retained EarningsRetained earnings refer to the trading profits/ net earnings which…
Q: Nani Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $125 per…
A: Explanation of Product Cost:Product cost refers to the total cost directly associated with…
Q: Consider the following information for
A: Formula for ROI:ROI = (Net Income / Total Assets) * 100For 2021:Net Income = 3,620,000Total Assets =…
Q: Give me answer
A: Explanation of Replacement Cost DepreciationReplacement cost depreciation refers to calculating…
Q: None
A: Step 1: Total direct materials variance = Direct materials price variance + Direct materials…
Q: The Value of Data Visualization, share your thoughts on what you learned about creating effective…
A: What I Learned About Creating Effective Data Visualizations:Understand Your Data:Before creating any…
Q: Financial accounting
A: Step 1: Define After-Tax Cost Of DebtThe after-tax cost of debt refers to an effective financing…
Q: 2.5.14 Financial Accounting Below are Income Statement data for Moti Corporation: Operating expenses…
A: Explanation of Return on Sales (ROS): This is a financial ratio that measures how efficiently a…
Q: Cost Account
A: Step 2: Calculate the ending inventory for each item using the lower of cost or market.Cameras:113…
Q: Hello tutor provide solution for this accounting problem
A: Step 1: Define Bank ReconciliationA bank reconciliation is the process of comparing the cash balance…
Q: Signal environment corp will pay a dividend solve this accounting questions
A: Step 1: Define Price of EquityThe market price of Equity is the current value at which a stock…
Q: DIRECT COST VARIANCES Gaines Manufacturing Co. has the following data: Standards allowed to produce…
A: The direct labor efficiency variance measures whether the company used more or fewer labor hours…
Q: give me step by step solution
A: Net Income = Sales * Profit MarginNet Income = 25,400,000*7.2%Net Income = $1,828,800 Return on…
Q: Can you please solve this accounting problem without use Ai?
A: Step 1: Define Percentage change in OCFThe percentage change in Operating cash flow is the product…
Q: Pablo Management has three employees, each of whom earns $175 per day. They are paid on Fridays for…
A: Pablo Management needs to account for the wages incurred on December 31, even though employees will…
Q: need general account solution
A: To calculate the total product costs for September, we need to include only costs associated with…
Q: Help
A: Explanation of Beginning Work in Process InventoryBeginning Work in Process Inventory refers to the…
Q: Please give me answer general accounting
A: Step 1: Definition of Straight-line DepreciationIt is a method that depicts the equal amount of…
Q: Consider a 4.00% TIPS with an issue CPI reference of 185.10. At the beginning of this year, the CPI…
A: Calculate the inflation rate for the yearInflation rate = (Ending CPI - Beginning CPI) / Beginning…
Q: Answer this with full explanation
A: Step 1: Define Overhead AllocationIn the parlance of statistics, the manufacturing overhead cost for…
Q: None
A: Approach to solving the question: Year Depreciation BaseRemaining LifeDepreciation…
Q: Solve general accounting questions
A: Step 1: Define Return on AssetsThe return on assets is the ratio of profits to the assets deployed…
Q: General Account questions please answer it
A: b. A rent check received on December 30 by the manager of an apartment complex. The manager normally…
Q: Strict warning: Don't us Ai tools, otherwise I will report
A: Press Release: Paying the Penalty Set by SEC and Drawing Attention to Actions TakenOscar Brands,…
Hello tutor please find the correct solution for this financial accounting question
Step by step
Solved in 2 steps
- At December 31, 2022, available-for-sale debt securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment. Security. Cost. Fair Value A $17,500 16,000 B 12,500 14,000 C 23,000 21,000 53,000 51,000 A. Prepare the adjusting entry at December 31, 2022 to report the securities at fair value. B- Show the statement presentation at December 31,2022, after adjustment to fair value. C- E. Kretsinger, a member of the board of directors, does not understand the reporting of the unreal- ized gains or losses. Write a letter to Ms. Kretsinger explaining the reporting and the purposes that it serves.At December 31, 2027, the trading debt securities for Sheridan, Inc. are as follows. Security Cost Fair Value A $17,800 $16,300 B 12,000 13,600 C 22,900 19,400 $52,700 $49,300 (a)At December 31, 2022, available-for-sale debt securities for Pharoah, Inc. are as follows. The securities are considered to be a long-term investment. Security (a) A B C Total Cost $16,985 12,930 21,760 $51,675 Fair Value $16.030 15,179 18,160 $49,369 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit
- Based on the information below, I have to prepare the adjusting entry at December 31, 2022 to report the securities at fair value. Thank you in advance!At December 31, 2027, available-for-sale debt securities for Sunland, Inc. are as follows. The securities are considered to be a long- term investment. Security Cost Fair Value A $17,200 $16,500 B 12,000 13,700 C 23,500 19,000 $52,700 $49,200 (a) Prepare the adjusting entry at December 31, 2027, to report the securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31At December 31, 2020, the available-for-sale debt securities for Larkspur, Inc. are as follows. Security Cost Fair Value X $28,600 $24,960 Y 13,000 13,520 23,920 18,720 $65,520 $57,200 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.) Date Account Titles and Explanation Dec. 31 N
- Based on the numbers attatched, I need to show the balance sheet presentation at Deceber 31, 2022 after adjustment to fair value.At December 31, 2020, the cost and fair value trading securities for Crane, Inc. are as follows. Security Cost Fair Value A $18,800 $17,800 B 13,100 14,800 C 22,400 19,700 $54,300 $52,300 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List debit entry before credit entry.)At December 31, 2022, the trading debt securities for Sheridan, Inc. are as follows. Security A (a) B C Cost $17,800 12,000 Dec. 31 22,900 $52,700 Fair Value $16,300 13,600 19,400 $49,300 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (List all debit entries before credit er Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No- for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
- At December 31, 2021, Blossom Company has an equity portfolio valued at $121000. Its cost was $106000. If the Securities Fair Value Adjustment has a debit balance of $6700, which of the following journal entries is required at December 31, 2021?At December 31, 2020, the trading securities for Crane, Inc. are as follows. Security Cost Fair Value A $17,500 $16,100 B 12,600 13,900 C 23,100 19,100 $53,200 $49,100 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31At December 31, 2021, the trading debt securities for Carla Vista, Inc. are as follows: Fair Value Debt Security Cost 12/31/21 X-tra $110000 $114000 Yeti 167000 164000 Zeta 50000 48000 Carla Vista should report the following amount related to the securities transactions in its 2021 income statement O $1000 realized loss. O $1000 unrealized loss. O $4000 gain. ○ $5000 unrealized loss.