User Account

All Pages

Hiker company completes the following transactions

Assignment Help Accounting Basics
Reference no: EM13896195

Hiker Company completes the following transactions during the current year. 

May 9 Purchases 200 shares of Higo stock as a short  term investment in available for sale securities at a cost of $25 per share plus $150 in broker fees. 
June 2 Sells 100 shares of its investment in Higo stock at $ 28 per share. The broker's commission on this sale is $90. 
Dec. 31 The closing market price (fair value) of the Higo stock is $ 23 per share. 
Prepare the May 9 and June 2 journal entries and the December 31 adjusting entry. This is the first and only time the company purchased such securities.

Reference no: EM13896195

Questions Cloud

Create a sense of community : 1) How do online communities that focus around a central fan based topic create a sense of community? 2) How are users of such communities able to channel their fandom in to a personal identity and community?
Should the recruiting o?cer accept the hypothesis : Should the recruiting o?cer accept the hypothesis and What is the rejection region for the test in centimeters?
Why there is a tendency towards underprovision of a network : Explain why there often exist multiple consumer equilibria for a given price of the network industry. Explain why there is a tendency towards underprovision of a network good by a monopolist, and even by perfectly competitive firms.
Do the authors'' arguments support their main points? : Do the authors' arguments support their main points?
Hiker company completes the following transactions : Hiker Company completes the following transactions during the current year.
Define direct and indirect network effects : What are the effects of end-user piracy of digital products on the producers' choices and on social welfare? Discuss. Define direct and indirect network effects, and illustrate with examples.
What is the minimum concrete cover for the reinforcing steel : What is the minimum concrete cover for the reinforcing steel and what is the minimum dimension of the column?
What do we call the error of accepting a false hypothesis : What do we call the error of accepting a false hypothesis? Of rejecting a true hypothesis and What symbol is usually used for the probability of type I error? What is another name for this?
What are the environmental health issues : There have been reports of people getting sick on cruise ships. What are the environmental health issues that must be addressed on a cruise ship in order to protect the health of the people on board

Reviews

Write a Review

Accounting Basics Questions & Answers

  On january 2 2012 indian river groves began construction of

on january 2 2012 indian river groves began construction of a new citrus processing plant. the automated plant was

  If fastenalt does not have excess capacity to accept hanks

fastenalt is an industrial supply manufacturer that provides hvac specialty thermostats to manufacturers and retailers.

  Apr 30 declared semiannual dividends of 075 on 18000 shares

selected transactions completed by canyon ferry boating corporation during the current fiscal year are as

  Daniel longan owns and manages daniels restaurant a 24-hour

daniel longan owns and manages daniels restaurant a 24-hour restaurant near the citys medical complex. daniel employs 9

  Calculate the materials quantity variance for the period

Sand Soap Company management is analyzing the company's standard cost variances for direct materials for the most recent period. The following information was available from company records.

  Problem regarding investment opportunity

Patrick Seeley has $2,400 that he is looking to invest. His brother approached him with an investment opportunity that could double his money in four years. What interest rate would the investment have to yield in order for Patrick's brother to de..

  How much of the 120000 would be distributed to the partners

the h i and j partnership was about to enter liquidation with the following account balancescash90000. noncash

  June sales were 5383 while projected sales for july and

june sales were 5383 while projected sales for july and august were 6746 and 7404 respectively. sales are 30 cash and

  Opportunity credit available

Devona's qualifying tuition expenses and fees total $4,000 for the fall semester, while Arethia's qualifying tuition expenses and fees total $6,200 for each semester during 2010. Full payment is made for the tuition and related expenses for both c..

  What is anthropology

What is anthropology? How would you define the discipline and differentiate if from other social and natural sciences? How do you anticipate anthropology can impact your life?

  Fraize corporation makes a product that uses a material

fraize corporation makes a product that uses a material with the quantity standard of 9.5 kilos per unit of output and

  Assignment on using motivation to improve performance

Using Motivation to Improve Performance

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