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While reviewing the March 31, 2012, balance sheet of Business Solutions, Santana Rey notes that the business has built a large cash balance of $68,057. Its most recent bank money market statement shows that the funds are earning an annualized return of 0.75%, so Rey decided to make several investments with the desire to earn a higher return on the idle cash balance. Accordingly, in April, 2012, Business Solutions makes the following investments in trading solutions: April 16 - Purchase 400 shares of Johnson & Johnson at $50 per share plus $300 commission.April 30 - Purchase 200 shares of Starbucks Corporation at $22 per share plus $250 commission. Questions: 1. Prepare journal entries to record the April purchases of trading securities by Business Solutions.2. On June 30, 2012, prepare the adjusting entry to record any necessary fair value adjustment to its portfolio of trading securities.
An article recently appeared in the Wall Street Journal indicating that companies are selling their receivables at a record rate. Discuss reasons why a company may want to sell their receivables and the advantages and disadvantages of this practi..
Compute and interpret the volume and management variance on the cost side. How are the variance calculated above related?
Joy pays no estimated taxes and does not claim any tax credits on her current year return. Will Joy owe interest, if so, on what amount and for how many days?
Describe fully the alternatives that are available to you in this situation. Express your personal opinion as to the appropriate course of action and provide reasoning to support your opinion.
Do you think the recommendations put forth in the Exposure Draft are likely to be successful or not? If successful, what are the most significant attributes? If not successful, what are the critical deficiencies?
Prepare a statement of cash flows indirect method The financial statements of Pouchie Co. included the information for the year ended December 31 - statement of cash flows, using the indirect method
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martin retired in may 2011. his pension is 1000 per month from a qualified retirement plan to which is added 48000 and
Explain factors that should be considered when applying the conventional concept of depreciation to the determination of how the value of a newly acquired computer system should be assigned to expense for financial reporting purposes.
ELO feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2012?
The March bank statement shown an ending balance of $20,245.00. Comparing bank statement, the canceled checks, and the accompanying memos
If taxes are ignored and the required rate of return is 9%, what is the project's net present value? Based on this analysis, should the company proceed with the project?
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