Accounting help 10 pts!!!!!!!!!!!!!!!!?

Answers:0   |   LastUpdateAt:2012-09-24 01:06:02  

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Iris
Asked at 2012-09-24 01:06:02
1.An investor purchased 500 shares, equivalent to $ 25, $ 21,750. Subsequently, 100 shares were sold for $ 49.50 per share. What is the amount of gain or loss on the sale? MedlinePlus a. MedlinePlus gain of $ 12,750 b. gain of $ 600 MedlinePlus c. MedlinePlus $ 600 loss d. MedlinePlus loss of $ 9,250 MedlinePlus 2.When shares of capital stock held as an investment are sold, the difference between income and book value of the investment is recorded as MedlinePlus (n) MedlinePlus a.prior adjustment period gain or loss b.extraordinary MedlinePlus MedlinePlus further emission c.paid MedlinePlus d.gain or loss MedlinePlus 3.Blanton Corporation purchased 17% of the outstanding shares of common stock of Worton Corporation as a long term investment. Subsequently, Worton Corporation reported net income and declared and paid cash dividends. What journal entry Blanton Corporation use to record dividends from Worton Corporation? MedlinePlus Investment in Worton Corporation a.debit; MedlinePlus Cash Credit Cash b.debit; Dividend Income Credit MedlinePlus Investment in Worton Corporation c.debit; credit Income of Worton Corporation MedlinePlus D.debit Cash, Loans in Worton Corporation MedlinePlus MedlinePlus 4.An investor bought 500 shares, equivalent to $ 25, $ 21,750. Subsequently, 100 shares were sold for $ 47.50 per share. What is the amount of gain or loss on the sale? MedlinePlus a. MedlinePlus gain of $ 4,350 b. gain of $ 400 MedlinePlus c loss. $ 400 MedlinePlus d. MedlinePlus loss of $ 16,800 MedlinePlus MedlinePlus 5.On January 1, 2010, Blanton Company Discount Investment Valuation Trading account has a debit balance of $ 22,500. The December 31, 2010, the cost of trading securities was $ 80,000. The market value was $ 98,000. Which of the following would inform Blanton? MedlinePlus The unrealized loss on investments of $ 4,500 a.an negotiation. MedlinePlus Unrealized gain on investments of $ 4,500 b.an negotiation. MedlinePlus Unrealized gain on investments of $ 18,000 c.an negotiation. MedlinePlus The unrealized loss on investments of $ 18,000 d.an negotiation. MedlinePlus MedlinePlus 6.If April 1, 2010, the Company purchased $ 50,000 of bonds Stanton 12% of the company Harris 100 plus accrued interest of $ 2,000. On June 30, 2010, Stanton received its first semiannual interest. On 1 February 2011, Stanton sold $ 40,000 of the bonds at 103 plus accrued interest. The journal entry Stanton will record on April 1, 2010, are as follows: MedlinePlus aa credit to interest payable for $ 2,000. MedlinePlus ba debit for investments - Harris Company for $ 52,000 MedlinePlus. c.a cash credit of $ 50,000. MedlinePlus da debit for investments - Harris Company for $ 50,000.
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