User Account

All Pages

During the fourth quarter of 2006 cablevision inc generated

Assignment Help Financial Accounting
Reference no: EM13378365

During the fourth quarter of 2006, Cablevision, Inc., generated excess cash, which the company invested in securities, as follows:

On Nov. 12 purchased 1,000 shares of common stock as a trading investment, paying $9 per share.
On Dec. 14 Received cash dividend of $0.32 per share on the trading investment.
On Dec. 31 Adjusted the trading investment to its market value of $7.50 per share.

Required is the list below. ( Must Show Work )

1. Prepare T-accounts for: Cash,balance of $20,000; Short-Term Investment; Dividend Revenue; Unrealized Gain on Investment ( or Unrealized Loss on Investment )

2. Journalize the foregoing transactions and post to the T-account.

3. Show how to report the short-term investment on the cablevision balance sheet at December 31.

4. Show how to report whatever should appear on cablevision's income statement.

5. Cablevision sold the trading investment for 8,000 on Jan. 10, 2007. Journalize sale.

Reference no: EM13378365

Questions Cloud

Kevin pte ltd signs a 5-year non-cancellable lease for a : kevin pte ltd signs a 5-year non-cancellable lease for a piece of equipment with samuelcompany on 1 jan 2012. kevins
The current assets and current liabilities for apple : the current assets and current liabilities for apple computer inc. and dell inc. are shown as follows at the end of a
The adjusto corporation which is on a december 31 fiscal : the adjusto corporation which is on a december 31 fiscal year-end engaged in the following transactions during 2007 and
Prepare journal entries to record the following : prepare journal entries to record the following merchandising transactions of sheng company which applies the perpetual
During the fourth quarter of 2006 cablevision inc generated : during the fourth quarter of 2006 cablevision inc. generated excess cash which the company invested in securities as
Nbspangelo diaz has decided to go into business selling : nbspangelo diaz has decided to go into business selling colourful scarves which are popular among university students.
Use the following to answer questions 1-4gross private : use the following to answer questions 1-4gross private domestic investment 46exports of the us 9disposable income
Matt and johnny both purchase pop and chips at the same : matt and johnny both purchase pop and chips at the same convenience store. they have different tastes for pop and chips
Raffies kids a non-profit organization that provides aid to : raffies kids a non-profit organization that provides aid to victims of domestic violence lowincome families and

Reviews

Write a Review

Financial Accounting Questions & Answers

  What conclusion would you have expressed in the inventory

What conclusion do you believe Bill DeBurger reached in his inventory memo? Put yourself in his position. What conclusion would you have expressed in the inventory memo? Why?

  Corey has a mountain bike worth 300 a credit card debt of

corey has a mountain bike worth 300 a credit card debt of 150 200 in cash a sandy koufax baseball card worth 400 1200

  Computation of retained earningsretained earnings

computation of retained earnings.retained earnings computations during 2006 edgemont corporation had revenues of 230000

  Compute the total cost of borrowing for these bonds

Prepare the journal entry to record the issuance of the bonds. Compute the total cost of borrowing for these bonds.

  Question spring co began the month with 30 units of

question spring co. began the month with 30 units of inventory that cost 50 each. on january 4 spring buy 85 units for

  Why installment will be due from property owners

four months prior to year-end, 6 percent special assessment bonds totaling $500,000 were issued to fund a streetlight improvement project in a local subdivision. the bonds are secondarily backed by the village. the first $25,000 installment will be..

  Management have called a meeting

Management have called a meeting of you and three of your colleagues, and during the meeting have discussed the effects of the legal need of public listed corporations to conform to the Australian Financial Reporting Standards

  Tasknbspyou are required to research apes110 the code of

tasknbspyou are required to research apes110 the code of ethics for professional accountants.after researching apes110

  What is b depreciation expense

The machinery has an estimated life of five years and an estimated residual value of $3,600. What is B's 2009 depreciation expense?

  Method for nonresidential property

So as to repair the garage after the fire Mr. Warden spent $7,795. The repairs are deliberated to be an improvement to the property, which before the casualty, was being denigrated under the MARCS method for nonresidential property. The total of d..

  Prepare an amortization table through first two periods

Prepare an amortization table through the first two interest periods using the effective-interest method and prepare journal entries to record bond-related transactions as of the folowing dates January 1,2014, July 1 2014, Dec 31,2014

  Decision on proposal where contract price is lesser than

decision on proposal where contract price is lesser than variable costgenerators inc. produced emergency backup

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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