Capriati corp-equity securities entries

Assignment Help Accounting Basics
Reference no: EM1358246

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.

Reference no: EM1358246

Questions Cloud

Draw uml diagram for classes quiz and question : Consider a quiz grading system that grades student responses to quizzes. Draw a UML diagram for classes Quiz, Question, EssayQuestion, MultipleChoiceQuestion, Student, and Submission.
How much power is dissipated in the cord : when 105 mL of water at 22 C is mixed with 68mL of water at 95 C, what is the final temperature? suppose no heat is lost to the surroundings and density of water is 1 g/mL.
Alternative trade: legacies for the future : explain how  Alternative Trade: Legacies for the Future  supports or challenges your conceptualizations of trade and development. Are there themes that some of you agree upon? Do you disagree on others? Describe your conversation.
Reasons why there is optimism for continued union success : Show the reasons why there is optimism for continued union success and why do employers resist the formation of unions in their companies? Provide at least four reasons.
Capriati corp-equity securities entries : Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:
Explain how to structure worksheet including titles : Explain how you will structure the worksheet, including the titles, column headings, and formulas to calculate the time it takes to make each size of cage.
Business environment and concepts : Universal Company has made changes in its inventory handling policies that are expected to increase turnover from 7 to 8 times per year.
Functions of a manager from an hr perspective : What are considered to be the functions of the manager from an HR perspective and how good do you think you are at performing these functions?
Diagnostic aspects of the person behavior : Examine the Antisocial Personality Disorder (APD) and indicate 3 diagnostic aspects of this person's behavior.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining asset impairment loss

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

  Preparation of adjustment entries and balance sheet

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..

  Recording journal entry-estimated warranty

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.

  Prepare journal entries that fortune-time recorded

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..

  Compute the depreciation expense

Survival Industries, Inc. purchased a boat at a cost of $360,000-Compute the depreciation expense for 2014

  Calculate cost of new common equity

Calculate the firm's cost of retained earrings and the cost of new common equity. Calculate the break-point associated with retained earnings.

  Amount of return on investment and residual income

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.

  Investment trust fund-summarize the collection of interest

Demostrate the entry in the Investment Trust Fund to summarize the collection of interest for six-month period.

  Creating a perception of detection

Creating a perception of detection can act as a deterrent to fraud. What are some ways companies attempt to create such a perception?

  Casualty loss deduction

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.

  Compute the full taxable income

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.

  Determine foreign exchange transaction

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

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd