Prepare the adjusting entry at december

Assignment Help Accounting Basics
Reference no: EM131755997

Question: At December 31, 2017, the available-for-sale debt portfolio for Carla, Inc. is as follows.

      Security Cost        Fair Value         Unrealized Gain (Loss)

A         $35,875            $30,750                 $(5,125)

B           25,625             28,700                    3,075

C           47,150             52,275                    5,125

Total   $108,650          $111,725                   3,075

Previous fair value adjustment balance Dr. 820

Fair value adjustment Dr. $2,255

On January 20, 2018, Carla, Inc. sold security A for $30,955. The sale proceeds are net of brokerage fees. Prepare the adjusting entry at December 31, 2017, to report the portfolio at fair value.

Reference no: EM131755997

Questions Cloud

What is the iot proposed product : What is the IoT proposed product? Provide the statement of need for the IoT product. What else is offered similar to the proposed IoT product in the market?
Determine cost of goods and ending inventory amounts : Determine Cost of Goods and Ending Inventory amounts under FIFO, LIFO, and Average Cost Methods. Clearly label which method goes with which COGS and End.
Define what the pmo is and its purpose : Define what the PMO is and its purpose. Describe the PMO competency continuum framework and its five stages.
Calculate the companys break-even point in sales dollars : Calculate the company's break-even point in sales dollars for the year 2017 if it hires its own sales force to replace the network of agents
Prepare the adjusting entry at december : On January 20, 2018, Carla, Inc. sold security A for $30,955. The sale proceeds are net of brokerage fees. Prepare the adjusting entry at December 31, 2017.
Describe three key metrics needed to guide a new pmo : Identify the types of PM standards needed, designate which are the most important two or three standards for successfully establishing a PMO.
Explain complete process of electroplating : Discuss two cases where Hess's law can be applied to calculate enthalpies of reactions that are difficult to measure directly
Social responsibility or environmentally sustainable polices : Find a American company that you think has ethics, social responsibility, or environmentally sustainable polices
Discuss your closing argument in a more conversational tone : discuss your closing argument in a more conversational tone. Does your conclusion reemphasize the important points that you have made in your essay?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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