Question
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton...
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities:
|
Date |
Company |
# of Shares |
Price per Share |
|
8/15 |
X Company |
1,500 |
$50 |
|
9/25 |
Y Company |
1,250 |
30 |
|
9/30 |
Z Company |
1,000 |
22 |
On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12 per share. The following were the year-end market values:
|
Company |
FMV per Share |
|
X Company |
$43 |
|
Y Company |
15 |
|
Z Company |
25 |
What the total dollar values that Easton Company should record for the Unrealized Gain or (Loss) on Trading Securities for 2018? Enter a Loss as a negative number.
Homework Answers
Answer #1
* Kindly comment down if you are having any
doubt and please mark with positive rating. Thank-you.
Not the answer you're looking for?
Similar Questions
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton...
Easton Company prepares annual adjusting entries only. During
the third quarter of Fiscal Year 2018, Easton Company acquired the
following trading securities: Date Company # of Shares Price per
Share 8/15 X Company 1,500 $40 9/25 Y Company 1,250 30 9/30 Z
Company 1,000 30 On November 10th, Easton Company sold the Y
Company stock for $31 per share. On December 15th, Z Company paid
dividends of $0.12 per share. The following were the year-end
market values: Company FMV per...
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton...
Easton Company prepares annual adjusting entries only.
During the third quarter of Fiscal Year 2018, Easton Company
acquired the following trading securities:
Date
Company
# of Shares
Price per Share
8/15
X Company
1,500
$40
9/25
Y Company
1,250
30
9/30
Z Company
1,000
22
On November 10th, Easton Company sold the Y Company
stock for $31 per share. On December 15th, Z Company paid dividends
of $0.12 per share. The following were the year-end market
values:
Company
FMV per...
Change to Equity Method On January 1, 2018, Lion Company paid $600,000 for 10,000 shares of...
Change to Equity Method
On January 1, 2018, Lion Company paid $600,000 for 10,000 shares
of Wolf Company's voting common stock, which was a 10% interest in
Wolf. Lion does not have the ability to exercise significant
influence over the operating and financial policies of Wolf. Lion
received dividends of $1.00 per share from Wolf on October 2, 2018.
Wolf reported net income of $400,000 for the year ended December
31, 2018, and the ending market price of its shares...
Scotti Company had the following transactions during the year 2018: On January 1, 2018, its first...
Scotti Company had the following transactions during the
year 2018:
On January 1, 2018, its first year of business, Scotti
Company issued 800,000 shares of $5 par value Common Stock for $18
per share.
On July 5, 2018, Scotti repurchased 200,000 shares at
$20 per share.
On August 4, 2018, Scotti reissued 50,000 of its
Treasury shares at $25 per share.
On September 15, 2018, Scotti reissued 50,000 of its
Treasury shares at $23 per share.
On December 29, Scotti...
Annapolis Company purchased a $2,000, 7%, 9-year bond at 99 and held it to maturity. The...
Annapolis Company purchased a $2,000, 7%, 9-year bond
at 99 and held it to maturity. The straight line method of
amortization is used for both premiums & discounts. What is the
net cash received over the life of the bond investment? (all money
received minus all money paid, round to nearest whole
dollar)
Ocean Pines Company had net income $475,000. They also
had depreciation expense of $200,000, an increase or (decrease) in
accounts receivable of $-30,000, and an increase or...
Required information Problem 15-5A Long-term investment transactions; unrealized and realized gains and losses LO C2, P3,...
Required information
Problem 15-5A Long-term investment transactions; unrealized and
realized gains and losses LO C2, P3, P4
[The following information applies to the questions
displayed below.]
Stoll Co.’s long-term available-for-sale portfolio at December 31,
2016, consists of the following.
Available-for-Sale Securities
Cost
Fair Value
45,000 shares of
Company A common stock
$
1,031,600
$
910,000
12,000 shares of
Company B common stock
322,750
312,000
26,000 shares of
Company C common stock
1,332,500
1,287,875
Stoll enters into the following long-term investment...
1.On 5/2/17, Anna Company purchased $100,000 of the 9%, 10-year bonds of Dexter Corporation for $106,247,...
1.On 5/2/17, Anna Company purchased $100,000 of the 9%, 10-year
bonds of Dexter Corporation for $106,247, which provides an 8%
return on annual interest payments made every 5/1. Anna
does not intend to hold the bonds until maturity, but will hold
them for longer than a year. The market value of the
bonds at 12/31/17 is $106,100 and at 12/31/18 is
$106,000. On 3/1/19, Anna sells the bonds for
$105,950. What journal entries will Anna make in 2017
and 2018 to appropriately record these...
1. On October 1, 20X1, ABC Limited makes available bonds that can be purchased by investors...
1. On
October 1, 20X1, ABC Limited makes available bonds that can be
purchased by investors at a market value of 107. Your company buys
a bond with a face or maturity value of $200,000 on that date. The
bond pays interest annually on September 30 starting in 20X2. When
the bond was purchased, the market interest rate was 2% and the
stated or coupon interest rate on the bond was 4%. Your company has
a year-end on December 31,...
1. Sweet Company’s outstanding stock consists of 1,600 shares of noncumulative 4% preferred stock with a...
1. Sweet Company’s outstanding stock consists of 1,600 shares of
noncumulative 4% preferred stock with a $100 par value and 11,600
shares of common stock with a $10 par value. During the first three
years of operation, the corporation declared and paid the following
total cash dividends.
Dividend Declared
year 1
$
3,600
year 2
$
9,200
year 3
$
40,000
The total amount of dividends paid to preferred and common
shareholders over the three-year period is:
Multiple Choice
$19,200...
he following information appeared in the trial balance for Base Corp. as of December 31, 2018...
he following information appeared in the trial balance for Base
Corp. as of December 31, 2018 (in thousands):
Sales
21950
Cost of goods
sold
16375
Selling
expenses
1845
General & admin
expense
1025
Interest
revenue
162
Interest
expense
387
Income tax
rate
28%
Income taxes have not yet been accrued and these items, above,
appear in the income statement of the company every year. The
Controller asks you to assess the appropriate treatment for several
other nonrecurring transactions, as identified...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 2 minutes ago
asked 24 minutes ago
asked 34 minutes ago
asked 50 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago