Home / Questions / Easton Company prepares annual adjusting entries only During the third quarter of Fiscal Y...
Easton Company prepares annual adjusting entries only. During the third quarter of Fiscal Year 2018, Easton Company acquired the following trading securities:
|
Date |
Company |
# of Shares |
Price per Share |
|
8/15 |
X Company |
1,500 |
$46 |
|
9/25 |
Y Company |
1,250 |
30 |
|
9/30 |
Z Company |
1,000 |
22 |
On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12 per share. The following were the year-end market values:
|
Company |
FMV per Share |
|
X Company |
$51 |
|
Y Company |
15 |
|
Z Company |
25 |
What the total dollar values that Easton Company should record for the Unrealized Gain or (Loss) on Trading Securities for 2018? Enter a Loss as a negative number.
6.
Arundel Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of:
|
Dollar Value |
Age of Account |
Estimated Collectible |
|
$235,000 |
|
98.0% |
|
60,000 |
30 to 60 days old |
95.0% |
|
25,000 |
61 to 120 days old |
77.0% |
|
6,000 |
> 120 days old |
17.0% |
The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts? Round to nearest whole dollar.
May 18 2020 View more View Less
A rubbery secreted matrix of proteoglycans and collagen surrounds living cells in ________.a. bone b. cartilage c. adipose tissued. blood
Jun 07 2021explain the environment topic on water pollution in MANUFATURING SECTOR1. what is the problem?2. why is it a problem? (provide evidence)
Apr 05 2021Minors in Maine and a Major Commerce Clause DecisionMaine passed a law that prohibited anyone other than a Maine-licensed tobacco retailer from accepting an order for del...
Aug 11 2021RAM
Mar 17 2020What are the ordinate and the abscissa of an ordinary atomic mass spectrum?
Jun 23 2020PROBLEM-SOLVING APPLICATION CASE (PSAC)The Cost of “Doing the Right Thing”Apply the knowledge of OB presented in this chapter to the following case. Applying this knowled...
Jul 22 2020Austin Co. manufactures a product called Aster in a three-process series. All materials are introduced at the beginning of the first process. Austin uses the first-in, fi...
Aug 02 2021Assume that both the U. S. and Canadian demand curves for lumber are linear. The Canadian demand curve lies inside the U. S. curve (the Canadian demand curve hits the axe...
Apr 10 2020Provenge immunotherapy (Sipuleucel-T (APC8015)) a multi-step immuno-stimulant therapy, uses the patients own blood cells which are removed from the body, combined with a ...
Feb 15 2020Use the following account balances from the adjusted trial balance of ABC Consulting Select the correct closing entry that ABC Consulting would make to close the owner's ...
Jul 22 2021