Business, 20.09.2019 20:00 vaizen9621

While reviewing the march 31, 2018, balance sheet of business solutions, santana rey notes that the business has built a large cash balance of $68,058. its most recent bank money market statement shows that the funds are earning an annualized return of 0.75%. s. rey decides to make several investments with the desire to earn a higher return on the idle cash balance. accordingly, in april 2018, business solutions makes the following investments in trading securities: apr. 16 purchases 530 shares of johnson & johnson stock at $52 per share plus a $500 commission. apr. 30 purchases 160 shares of starbucks corporation at $25 per share plus a $220 commission. on june 30, 2018, the per share market price (fair value) of the johnson & johnson shares is $57 and the starbucks shares is $22. required: 1. prepare journal entries to record the april purchases of trading securities by business solutions. 2. on june 30, 2018, prepare the adjusting entry to record any necessary fair value adjustment to its portfolio of trading securities.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:20

Molander corporation is a distributor of a sun umbrella used at resort hotels. data concerning the next month’s budget appear below: selling price per unit $ 29 variable expense per unit $ 14 fixed expense per month $ 12,450 unit sales per month 980 required: 1. what is the company’s margin of safety? (do not round intermediate calculations.) 2. what is the company’s margin of safety as a percentage of its sales? (round your percentage answer to 2 decimal places (i.e. 0.1234 should be entered as 12.

Answers: 3

Answer

Business, 22.06.2019 09:40

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.

Answers: 1

Answer

Business, 22.06.2019 11:00

The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.

Answers: 2

Answer

Business, 22.06.2019 12:00

In the united states, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. in the united kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. the united kingdom has a comparative advantage in the production of:

Answers: 2

Answer

You know the right answer?

While reviewing the march 31, 2018, balance sheet of business solutions, santana rey notes that the...

Questions