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Question
Haladam Company had the following transactions relating to investments in trading securities during the year. Prepare the required general journal entries for these transactions.
| May 4 Haladam purchased 600 shares of Cob Company stock at $120 per share plus a $750 brokerage fee. July 1 Haladam received a $2.50 per share cash dividend on the Cob Company stock. Sept. 15 Sold 300 shares of the Cob Company stock for $125 per share, less a $450 brokerage fee. Dec. 31 The market value of the Cob Company stock (the only investment that Haladam owns) is $124 per share. The balance of the Market Adjustment Trading a zero balance prior to adjustment. |
Answer
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Related questions
Q:
Periods
12 Percent 1
8929 2
1.6901 3
2.4018 4
3.0373 Assuming all revenue is to be received at the end of each year, what are the net cash flows for this investment if net present value equals ($11,790)?
A. $78,210
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E. $33,513
Q:
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B. $(251.52) and Scott would be willing to pay $29,748.48 for the machine.
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Q:
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.8264
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E. $0.00
Q:
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C. Accounting rate of return, net present value, and payback period.
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Q:
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Q:
The _______________________________ is computed by dividing a project's after-tax net income by the average amount invested in it.
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Q:
The process of restating future cash flows in terms of their present value is called _____________________.
Q:
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A. An annual period of 250 working days.
B. A monthly period separated into daily budgets.
C. A quarterly period separated into weekly budgets.
D. An annual period separated into weekly budgets.
E. An annual period separated into quarterly and monthly budgets.
Q:
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A. From the top down.
B. From the bottom up following a participatory process.
C. Solely by the budget committee.
D. By the CEO.
E. After the accounting period has begun.
Q:
Preparing a master budget is usually the responsibility of:
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B. The marketing department.
C. A budget committee.
D. The chief financial officer.
E. Lower level management.
Q:
Part of the cash budget is based on information drawn from the capital expenditures budget.
Q:
Activity-based budgeting is a budget system based on expected activities and their activity levels, which helps management plan for the resources required.
Q:
The budgets within the master budget must be prepared in a definite sequence as dictated by GAAP.
Q:
The ______________________________ shows the budgeted costs for direct materials, direct labor, and overhead based on the budgeted production volume from the production budget.
Q:
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April
May
June
July Unit Sales 500
580
530
600 Ending Raw Materials Inventory
663 lbs. Ending Finished Goods Inventory
174 units Desired ending inventory:
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Finished goods = 20% of next month's sales
Pounds of raw material required for each finished Unit = 5 lbs.
Direct labor hours per unit = 0.5 hrs
Direct labor rate = $12/hour
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b. Calculate the amount of purchases of raw materials in pounds for April and May.
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Q:
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40,000 Bank loan payable
16,000 Additional data:
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(4) A minimum cash balance of $40,000 is required at the end of each month.
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Q:
Which of the following statements is true regarding absorption costing?
A. It is a not the traditional costing approach.
B. It is not permitted to be used for financial reporting.
C. It is not permitted to be used for tax reporting.
D. It assigns all manufacturing costs to products.
E. It requires only variable costs to be treated as product costs.
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Which of the following is not a product cost?
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Q:
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