
Available forSale Security:
These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.
Long Term Investment:
Long term investment is the investment for long period generally for more than one year. The long term investment helps in the purchase of fixed assets, expansion, or for growth of the company. It shows under assets head of the
Adjusting entries are made at the end of the year to adjust the financial position of the enterprise according to accrual basis of accounting.
To prepare: Adjusting

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Chapter C Solutions
FIN & MANAGERIAL ACCT VOL 2 W/CONNECT
- Bradley Industries applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $245,000 and 7,000 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $243,500, and actual direct labor-hours were 6,950. The applied manufacturing overhead for the year was closest toarrow_forwardNonearrow_forwardA company receives a 6%, 120-day note for $2,400. The total interest due on the maturity date is (Use 360 days a year.) ?arrow_forward
- A $2,000 bond issued in 2018 pays $180 in interest each year. What is the current yield on the bond if it can be purchased for $1,500? Financial Accountingarrow_forwardive been stuck on trying to figure out what goes in this multiple select option for a week PLSS HEEEELParrow_forwardAnsarrow_forward
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