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Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:
2012:
Jan 15: Purchased 13,500 shares of Gonzalez Company's stock at $50.25 per share and commission of $2,970.Apr 1: Purchased 7,500 shares of Belmont Co.'s stock at $78.00 per share and commission of $5,055.Sep 10: Purchased 10,500 shares of Thep Co.'s preferred stock at $39.75 per share and commission of $7,365.
2013:
May 20: Capriati sold 4,500 shares of Gonzalez Company's common stock at a market price of $52.50 per share less commissions of $4,275. The year-end fair values per share were: Gonzalez $45.00, Belmont $82.50, and Thep $42.00. Capriati Corporation plans to hold these securities for the long term but may sell them in order to earn profits from appreciation in prices.
General Optic Corporation operates a manufacturing plant in Arizona. Due to a significant decline in demand for the product manufactured at the Arizona site-Determine the amount of impairment loss
The Chandler Corporation began business on January 2, 2007. It is now time for Chandler to prepare its financial statements for 2007. The bookkeeper at Chandler was able to complete the asset section of the balance sheet, but he needs your help to..
Prepare a journal entry to record the estimated liability. Assume that during 2010, products under warranty must be repaired using repair parts from inventory costing $4,950. Prepare the journal entry to record the repairs of products.
Listed below are transactions dealing with various stock benefit plans of Fortune-Time Corporation during the period 2009-2011. The market price of the stock is $45 at January 1, 2009. Prepare the Journal entries that Fortune-Time recorded for each..
Survival Industries, Inc. purchased a boat at a cost of $360,000-Compute the depreciation expense for 2014
Calculate the firm's cost of retained earrings and the cost of new common equity. Calculate the break-point associated with retained earnings.
Compute the sales level that would generate a 20% return on investment. Supposing the rate of return is 15%, determine the level of sales that would generate $200,000 of residual income.
Demostrate the entry in the Investment Trust Fund to summarize the collection of interest for six-month period.
Creating a perception of detection can act as a deterrent to fraud. What are some ways companies attempt to create such a perception?
Sarah came home one day to find significant water damage in her home. Apparently one of the hoses to her washing machine had worn out and split, spilling water all over the place. Over the next month, mildew appeared as well.
Find out the amount of Milt's income which is subject to income tax by each state. Make sure to compute the full taxable income and show all computations.
Post Inc, had a receivable from a foregn customer that is payable in customer's loca currency. On Dec 31, 2009, Post correctly included this receivable for 200,000 local currency units
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