please provide full answer with following answer format
Homework Answers
| 2016 | |||
| Apr-13 | Investments in Trading Securities | 140000 | |
| To Cash | 140000 | ||
| Apr-24 | Investments in Trading Securities | 80000 | |
| To Cash | 80000 | ||
| Dec-31 | Investment in trading securities | 10000 | |
| To Unrealised Gain on investment | 10000 | ||
| Unrealised loss on investment | 10000 | ||
| To Investment in trading securities | 10000 | ||
| Note :- The Last entry may be not posted because the net efect is nill | |||
| 2017 | |||
| Jan-08 | Investments in Trading Securities | 90000 | |
| To Cash | 90000 | ||
| May-27 | Cash A/c | 100000 | |
| To Investments in Trading Securities | 90000 | ||
| To Profit on sale of investmet | 10000 | ||
| Dec-31 | Investment in trading securities | 10000 | |
| To Unrealised Gain on investment | 10000 | ||
| Unrealised loss on investment | 20000 | ||
| To Investment in trading securities | 20000 | ||
| Note:- on place of these two entries one entry may be posted | |||
| Unrealised loss on investment | 10000 | ||
| To Investment in trading securities | 10000 | ||
| 2018 | |||
| Jan-03 | Investments in Trading Securities | 180000 | |
| To Cash | 180000 | ||
| Jun-30 | Cash A/c | 200000 | |
| To Investments in Trading Securities | 180000 | ||
| To Profit on sale of investmet | 20000 | ||
| Dec-31 | Investment in trading securities | 20000 | |
| To Unrealised Gain on investment | 20000 | ||
| Note- In place of this entry two Diferent entry may be posted | |||
| b) Income Statement | ||||
| 2016 | 2017 | 2018 | ||
| Realised Gain(Loss) on sale of HFTI | 0 | 10000 | 20000 | |
| Unrealised Gain(Loss) from change in market value' | 0 |
(10000) |
20000 | |
| Balance Sheet | ||||
| 2016 | 2017 | 2018 | ||
| Held for Trading investment(HFTI) | 220000 | 210000 | 230000 | |
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Question 4 The following information relates to the...
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Please answer requirement 2&3 Top Team Investments completed the following investment transactions during 2018: (Click the...
Please answer requirement
2&3
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Question Information Submission Format: Please answer the question in the submission format and fill out all...
Question Information
Submission Format:
Please answer the question in the submission format and fill out
all sections. Thank you!
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need help with the journal entry for August 1
thanks.
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OPTIONS
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Please answer requirement
2&3
Top Team Investments completed the following investment transactions during 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Top Team's investment transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the Accounts column and leave the remaining cells blank.) Jan. 14: Purchased 1,000 shares of Tycon stock, paying S47 per share....
Question Information
Submission Format:
Please answer the question in the submission format and fill out
all sections. Thank you!
E3-17 Subsidiary Acquired at Net Book Value LO 3-4, 3-5 On December 31, 20X8, Paragraph Corporation acquired 80 percent of Sentence Company's common stock for $136,000. At the acquisition date, the book values and fair values of all of Sentence's assets and liabilities were equal. Paragraph uses the equity method in accounting for its investment. Balance sheet information provided by the...
need help with the journal entry for August 1
thanks.
URCES (Ch 11 Question 2 During 2018, Benton Financial Corporation had the following held for trading investment transactions: 1 Purchased 660 CBF common shares for $38,280. Mar Purchased 770 RSD common shares for $20,790. Apr. 1 Wrchased 7% MRT bonds at face value, for $63,000. Interest is received semi-annually on April 1 and October 1. Joly 1 Recei a cash dividend of $3 per share on the CBF common shares....
The following Vermillion Corporation transactions are for bonds
that were purchased as a held for trading investment for the year
ended December 31, 2018:
A) Fill in the blanks below.
B) Show how the investment would be presented on the statement
of financial position at December 31, 2018.
(C) Determine the balance in each of the income statement
accounts that are affected in the transactions above and indicate
how they would be presented on the income statement for the year...
OPTIONS
On January 1, 2018, the Cook's Restaurant decides to invest in Lake Myrth bonds. The bonds mature on December 31, 2023, and pay interest on June 30 and December 31 at 4% annually. The market rate of interest was 4% on January 1, 2018, so the $110,000 maturity value bonds sold for face value. Cook's intends to hold the bonds until December 31, 2023. Requirements 1. Journalize the transactions related to Cook's investment in Lake Myrth bonds during 2018....
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