Question
On February 15, Jewel Company buys 7,400 shares of Marcelo Corp. at $28.57 per share. The purchase is classified as a stock investment with insignificant
On February 15, Jewel Company buys 7,400 shares of Marcelo Corp. at $28.57 per share. The purchase is classified as a stock investment with insignificant influence. This is the companys first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $1.19 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 30 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.35 per share. The fair value of the remaining shares is $29.55 per share at year-end. The amount that Jewel Company should report in the current-year income statement from its investment in Marcelo Corp. is:
please help
i Unrealized GainIncome; $10,926. 0 Unrealized LossEquity; $3,626. 0 Unrealized GainIncome; $3,626. 0 Unrealized Loss-Income; $3,626. 0 Realized GainIncome; $3,626. Green Company reports depreciation expense of $43,000 for Year 2. Also, equipment costing $149,000 was sold for a $5,300 gain in Year 2. The following selected information is available for Green Company from its comparative balance sheet. Compute the cash received from the sale of the equipment. At December 31 Equipment Accumulated Depreciation-Equipment Year 2 Year 1 $625,000 $774,000 440,000 515,000 Multiple Choice $25,700. $43,000. o $74,000. $74,000. o $36,300. $36,300. 0 $31,000Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started