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Alpha Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2017, Alpha Company acquired the following trading securities: Date Company # of Shares Price per Share 15-Aug Yankee Company 1,500 $50 25-Sep X-ray Company 1,250 30 30-Sep Zulu Company 1,000 26 On November 10th, Alpha Company sold the X-ray Company stock for $31 per share. On December 15th, Zulu Company paid dividends of $0.12 per share. The following were the year-end market values: Company FMV per Share Yankee Company $60 X-ray Company 15 Zulu Company 20 What the total dollar values that Alpha Company should record for the following: (Enter whole dollars only, for loss amounts enter the $ & value inside of the brackets.)
1. Realized Gain/Loss during 2017
2. Unrealized Gain/Loss on Trading Securities for 2017
3. Dividend Income
Accounting principle changes is an interesting topic to deal in accounting because of its advantages and disadvantages. Please elaborate how the company has handled the change and how it was shown in the financial statements.
1. the accounting for assets both current and long-term has changed significantly since the inception of the fasb.
During 2010, Bike reported net income of $500,000. For 2011, Bike reported net income of $800,000. Dividends of $300,000 were paid in each of these two years. Explain how much income did Harley report from Bike for 2011?
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