Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 20 Sep 2017 My Price 5.00

Steelers Inc

Ex 13-20  Fair value journal entries, available-for-sale investments                  ObJ. 3, 4 The investments of Steelers Inc. include a single investment: 33,100 shares of Bengals Inc. common stock purchased on September 12, 2016, for $13 per share including brokerage  com-

mission. These shares were classified as available-for-sale securities. As of the December 31,

2016, balance sheet date, the share price declined to $11 per share.

a.     Journalize the entries to acquire the investment on September 12 and record the ad- justment to fair value on December 31, 2016.

b.    How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Sep 2017 03:09 PM My Price 5.00

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