Trust fund sold investments in securities

Assignment Help Accounting Basics
Reference no: EM13120685

A private-purpose trust fund sold investments in securities having a carrying value of $23,000 for $26,000, resulting in a $3,000 gain on the change in value. If there are no trust provisions to the contrary, the gain is generally??

Reference no: EM13120685

Questions Cloud

What is the molality of crcl3 in a solution prepared : What is the molality of CrCl3 in a solution prepared by dissolving 75.2 g chromium(III) chloride hexahydrate in 250.0 g of water.
What is the probability that two cards drawn : What is the probability that two cards drawn from a deck are both aces?. Two cards are drawn at random from an ordinary deck of playing cards. The first is not replaced before the second is drawn. What is the probability that:
Graphing and fitting data to different kinds of functions : As the financial manager of ABC computers, you are ready to make some decisions. You are trying to see where revenues are going?is the company ready to expand, and if so, when?
Find notes using the effective-interest method : Purchases land having a fair value of $336,000 by issuing a 4-year, zero-interest-bearing promissory note in the face amount of $592,147.
Trust fund sold investments in securities : A private-purpose trust fund sold investments in securities having a carrying value of $23,000 for $26,000, resulting in a $3,000 gain on the change in value. If there are no trust provisions to the contrary, the gain is generally??
Find oint probability : Question about Joint probability· Calculate probabilities and joint probabilities on the events of driving to work everyday for 10 days. Identify the meaning of independent and dependent of this event
Illustrate what is the minimum time necessary for crossing : The hunter uses a small powerboat that moves at a maximum speed of 14 km/h with respect to the water. Illustrate what is the minimum time necessary for crossing?
How many ammonium ions are present : When 0.062 moles of ammonium sulfate ((NH4)2SO4) are dissolved in enough water to make 200 milliliters of solution, how many ammonium ions are present.
Perform test using the critical value or p-value approach : Compute the test statistic. Using = 0.05, perform the test using either the critical value approach or the p-value approach. What is your conclusion?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Fraud and production cycles

What are several conditions that can lead to fraud and to what type of fraud can they lead? Describe the source documents and controls that would be included in a typical production cycle.

  Business assets-depreciation schedule

You are asked to make a depreciation schedule for a business asset. A depreciation schedule shows the remaining value of the asset at the end of each time period. Create a depreciation schedule for each of the following

  Short term profitability exist of government

In business, there is a tension between the principals (stockholders) and agents (managers). The managers may choose policies that increase short-term profitability (and their bonuses) at the expense of long-term profitability.

  Trade between buyer and seller

Suppose that the terms of trade between a buyer and a seller are free on board (FOB) destination. What document provides evidence that a liability exists and might be unrecorded?

  Balanced scorecard and perspectives on performance

Make notes on the following two items to help your manager to understand their meaning: The balanced scorecard and its perspectives on performance

  Gaap and health care

Some generally accepted accounting principles (GAAP) apply only to health care, and there are many health care organizations that use other comprehensive bases of accounting when GAAP does not apply

  Journal entries of woodside company

Write journal entries for the following transactions that occurred at Woodside Company during the month of May and explain how each would be disclosed in Woodside's financial statements.

  Defined benefit pension plan

TRM Corporation established a defined benefit pension plan in Year 5. In Year 8 the following information is available. Service cost = $45,000. Interest cost = $60,000.

  Prepare the bank reconciliation

Prepare the accounting records for Tanya's Tutoring Service (Version A),    Set up the Chart of Accounts,  Prepare the bank reconciliation for January 31, 2013

  Tax advantages-disadvantages

The town of Seaside has decided to construct a new sea aquarium to attract tourist. The cost of the measure is to be paid by a special tax. Although most of the townspeople believe the sea aquarium is a good idea, there is disagreement about how t..

  Funzy report as a promotional expense for coupons

During the last month of 2009, the first month of the offer, Funzy sold 12 million boxes of Wheatos and 2.4 million of the coupons were redeemed.

  What factors should be considered in making an estimate

What factors should be considered in making an estimate of the loss accrual? What information should management disclose in the footnotes to the financial statements concerning this purchase commitment?

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