Question
In: Accounting
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 |
20 |
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 |
$41 |
|
Y Company |
15 |
|
Z Company |
31 |
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.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
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
$42
9/25
Y Company
1,250
30
9/30
Z Company
1,000
28
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
28
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...
5. Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018,...
5.
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
$46
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...
5. Weston Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018,...
5. Weston Company prepares annual adjusting entries only. During
the third quarter of Fiscal Year 2018, Weston 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 25 9/30 Z
Company 1,000 20 On November 10th, Weston 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...
The Yankel Corporation’s controller prepares adjusting entries only at the end of the fiscal year. The...
The Yankel Corporation’s controller prepares adjusting entries
only at the end of the fiscal year. The following adjusting entries
were prepared on December 31, 2018:
Debit
Credit
Interest
expense
2,760
Interest payable
2,760
Insurance expense
92,000
Prepaid insurance
92,000
Interest receivable
5,520
Interest revenue
5,520
Additional information:
The company borrowed $46,000 on June 30, 2018. Principal and
interest are due on June 30, 2019. This note is the company’s only
interest-bearing debt.
Insurance for the year on the company’s office...
The Eldorado Corporation's controller prepares adjusting entries only at the end of the fiscal year. The...
The Eldorado Corporation's controller prepares adjusting entries
only at the end of the fiscal year. The following adjusting entries
were prepared on December 31, 2016: Debit Credit Interest expense
7,200 Interest payable 7,200 Rent expense 35,000 Prepaid rent
35,000 Interest receivable 500 Interest revenue 500 Additional
information: The company borrowed $120,000 on March 31, 2016.
Principal and interest are due on March 31, 2017. This note is the
company's only interest-bearing debt. Rent for the year on the
company's office...
Bugatti Company has a September 30 fiscal year end and prepares adjusting entries on an annual...
Bugatti Company has a September 30 fiscal year end and prepares
adjusting entries on an annual basis. The trial balance included
the following selected accounts:
Prepare and post adjusting, closing, reversing, and cash
transaction entries.
Accumulated depreciation
$ 4,250
Depreciation expense
0
Interest expense
3,333
Interest payable
0
Interest receivable
0
Interest revenue
0
Salaries expense
153,000
Salaries payable
0
Additional information for its September 30, 2021, year-end
adjustments:
Bugatti has a two-year, 3.5% note receivable for $50,000 that
was...
Carla Vista Company has a September 30 fiscal year end and prepares adjusting entries on an...
Carla Vista Company has a September 30 fiscal year end and
prepares adjusting entries on an annual basis. The trial balance
included the following selected accounts:
Accumulated depreciation
$4,650
Depreciation expense
0
Interest expense
3,400
Interest payable
0
Interest receivable
0
Interest revenue
0
Salaries expense
155,000
Salaries payable
0
Additional information for its September 30, 2021, year-end
adjustments:
1.
Carla Vista has a two-year, 3.5% note receivable for $4,800
that was issued on April 1, 2021. Interest is payable...
The Eldorado Corporation's controller prepares adjusting entries only at the end of the reporting year. The...
The Eldorado Corporation's controller prepares adjusting entries only at the end of the reporting year. The following adjusting entries were prepared on December 31, 2021: Additional information: 1. The company borrowed $684,000 on March 31, 2021. Principal and interest are due on March 31, 2022. This note is the company's only interest-bearing debt. 2. Rent for the year on the company's office space is $48,000. The rent is paid in advance. 3. On October 31, 2021, Eldorado lent money to a customer. The customer...
The Highland Cove Resort has a May 31 fiscal year end and prepares adjusting entries on...
The Highland Cove Resort has a May 31 fiscal year end and
prepares adjusting entries on a monthly basis. The following trial
balance was prepared before recording the May 31 month-end
adjustments:
Prepare and post adjusting entries, and prepare adjusted
trial balance and financial statements.
HIGHLAND COVE RESORT
Trial Balance
May 31, 2021
Debit
Credit
Cash
$ 17,520
Prepaid insurance
1,590
Supplies
995
Land
35,000
Building
150,000
Accumulated depreciation—building
$ 47,750
Furniture
33,000
Accumulated depreciation—furniture
12,925
Accounts payable
8,500
Unearned revenue
15,000...
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