Marian Company's records show the following account balances at 2/1/18: Investment in HTM securities, $500,000; and...

Marian Company's records show the following account balances at 2/1/18: Investment in HTM securities, $500,000; and discount on HTM investment, $20,000. On that day, the company sells the investment for $520,000. The journal entry would include debits of (Select all that apply.)

Northern Company has bonds with an amortized cost of $600,000. At the end of the first reporting period, the bonds had a fair value of $675,000. 2 days after the end of the first reporting period, the bonds have a fair value of $680,000 and Northern decides to sell the bonds. The initial investment in the bonds was $700,000 and the discount on bond account has a $100,000 balance. Northern properly classifies these bonds as trading securities. The journal entry to record the sale of the bonds includes (Select all that apply.)

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ekkarill92 answered 1 year ago

Duchess Company's records show the following account balances at December 31,2018 Sales 19,000,000 Cost of Goods...

Duchess Company's records show the following account balances at December 31,2018 Sales 19,000,000 Cost of Goods Sold 11,000,000 General an administrative expenses 1,200,000 Selling Expenses 700,000 Interest expense 900,000 Income tax has not yet been determined. The following events also occurred during 2018. All transactions are material in amount. 1. 500,000 in restructuring costs were incurred in connection with plant closings. 2. Inventory costing 600,000 was written off as obsolete. Material losses of this type are considered to be unusual....

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