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Alpha Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2017, Alpha Company acquired the following trading securities: Date Company # of Shares Price per Share 15-Aug Yankee Company 1,500 $50 25-Sep X-ray Company 1,250 30 30-Sep Zulu Company 1,000 26 On November 10th, Alpha Company sold the X-ray Company stock for $31 per share. On December 15th, Zulu Company paid dividends of $0.12 per share. The following were the year-end market values: Company FMV per Share Yankee Company $60 X-ray Company 15 Zulu Company 20 What the total dollar values that Alpha Company should record for the following: (Enter whole dollars only, for loss amounts enter the $ & value inside of the brackets.)
1. Realized Gain/Loss during 2017
2. Unrealized Gain/Loss on Trading Securities for 2017
3. Dividend Income
BACC16 Financial Accounting Fundamentals Assignment. Critically evaluate short term liquidity using three relevant ratios: Critically evaluate the profitability using three relevant ratios: Critically evaluate the financial stability/solvency using t..
One way to display the balance sheet is to use these menu bar selections: On the Navigation Bar, make the following selections to record a payment on account: The Balance Sheet will divide the assets section as follows: To go from the income statemen..
statement of stock holders equity.waller publications was organized early in 2004 with authorization to issue 30000
West determined that no valuation allowance was needed. What amount of deferred tax asset should West report in its December 31, 2010 balance sheet?
What is the cross rate between the Japanese yen and the Canadian dollar? That is, solve for ¥ per C$ - What is the cross-rate of Swiss francs to euros
DLK is a C corporation. Each individual contributed $10,000 to the company in exchange for 1,000 shares of DLK stock (for a total of 3,000 shares). The corporation also borrowed $250,000 from ACME Venture Capital to finance operating costs and capita..
How can Avon have a larger balance of treasury stock than the sum of Common Stock and Paid-in Capital in Excess of Par
Tough Guy Truck and Tire has three lines of business: tire sales, service/repairs and accessories. Tires are typically for off road vehicles, and accessories include special lift suspensions and wheels. To calculate a breakeven point for the coming y..
Explain the difference between equilibrium, surplus and shortage. What makes surplus and shortage inefficient? Explain in detail. How and why do we return to equilibrium in each of these cases? Explain the difference between price floors and price ce..
The Fulmar Division of Jayne manufacturing had an ROI of 25% when sales were $2 million and controllable margin was $400,000. What were the average operating assets?
An asset's book value is $19,000 on December 31, Year 5. The asset has been depreciated at an annual rate of $4,000 on the straight-line method. Assuming the asset is sold on December 31, Year 5 for $16,000, the company should record:
January 5, to record the employer's payroll taxes on the payroll to be paid on January 5. Since it is a new fiscal year, all $675,000 in salaries is subject to unemployment compensation taxes.
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