Question
The following information pertains to LarkCorp.s available-for-sale securities Year 2 Year 3 Cost 100,000 100,000 Fair value 90,000 120,000 Differences between cost and fair values
The following information pertains to LarkCorp.s available-for-sale securities
Year 2 Year 3
Cost 100,000 100,000
Fair value 90,000 120,000
Differences between cost and fair values are considered to be temporary. The decline in fair value was properly accounted for at December 31, Year 2. What adjusting entry should be recorded for December 31, Year 3?
The following information pertains to Tidwell Corp.s outstanding stock for the year just ended:
Common stock, $5 par value:
Shares outstanding on January 120,000
Shares issued on April 1 in a 2 for 1 stock split20,000
New shares issued on July 1 for cash10,000
How many shares should Tidwell use to calculate basic earnings per share?
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Financial Accounting
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
12th edition
134725980, 9780134726656 , 978-0134725987
