Question
7. Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had the investments in bonds listed below. None was held
7. Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2017, and all are considered securities available-for-sale.
| Cost | Fair Value | Unrealized Holding Gain (Loss) | ||||||||||
| Short term: | ||||||||||||
| Blair, Inc. | $ | 486,000 | $ | 402,000 | $ | (84,000 | ) | |||||
| ANC Corporation | 453,000 | 486,000 | 33,000 | |||||||||
| Totals | $ | 939,000 | $ | 888,000 | $ | (51,000 | ) | |||||
| Long term: | ||||||||||||
| Drake Corporation | $ | 486,000 | $ | 563,000 | $ | 77,000 | ||||||
| Aaron Industries | 717,000 | 663,000 | (54,000 | ) | ||||||||
| Totals | $ | 1,203,000 | $ | 1,226,000 | $ | 23,000 | ||||||
Required: 1. Prepare appropriate adjusting entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. What amounts would be reported in the income statement at December 31, 2018, as a result of these adjusting entries?
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The Leadership Style At PT Tekstil Bandung A Management Audit Investigation Following The Prolonged Economic Slowdown In Indonesia
Authors: Samuel P.D. Anantadjaya, Irma M. Nawangwulan
1st Edition
3659328979, 978-3659328978
