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LED Corporation owns 100,000 shares of Branch Pharmaceuticals common stock and classifies its investment as securities available-for-sale. The market price of Branch's stock fell more than 30%, by $4.50 per share, due to concerns about one of the company's principal drugs. The concerns were justified when the FDA banned the drug. $1.00 per share of that decline in value already had been included in OCI as a temporary unrealized loss in a prior period. What journal entries should LED record to account for the decline in market value in the current period? How should the decline affect net income and comprehensive income?
1. paco corporation has 16000000 of 9.5 percent 25-year bonds dated march 1 with interest payable on march 1
Trent paid cash dividends of $160,000 and thereafter declared and issued a 5% common stock dividend when the market value was $2 per share. Trent's net income for 2010 was $360,000. What is the balance in Agee's investment account at the end of 2010?
At the end of the year, 20% of the goods were still in X-Beams' inventory. Kent's reported net income was $300,000. What was the noncontrolling interest in Kent's net income?
mags pie shop is a rapidly growing baker anddistributor of specialty pies for festive occasions. magscpa adviser keeps
jameson corporation is considering investing 500000 in new computers for its main office building. the initial
how you file the following items on form 1040? please be specific and inclue any extra calculations
On January 1, 2012 JumpinJehosaPhats Inc. has been authorized to issue 1,000,000 common shares with a Par Value of $1. In the process of incorporating, the sole proprietor owner's equity accounts must be closed and the equity must now reflect a co..
How might these considerations affect your recommendation to the head of the industry group?
california customs designs llc is a business that customizes motorcycles and automobiles according to the customers
1. what are some of the risks an investor assumes by using historical trends analysis to make investment decisions?2.
Distinguish between a defined benefit plan and a defined contribution plan. Why does a defined benefit plan present far more complex accounting issues than a defined contribution plan?
Calculate realized gross profit for 2005. Record any journal entries required for 2004
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