Maurice Tutor

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About Maurice Tutor

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Expertise:
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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: 399 Weeks Ago, 1 Day 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 > Management Posted 20 Feb 2018 My Price 6.00

Kinney Company

(Entries for Available-for-Sale and Trading Securities) The following information is available for Kinney Company at December 31, 2012, regarding its investments.

Securities

Cost

Fair Value

3,000 shares of Petty Corporation Common Stock

$40,000

$46,000

1,000 shares of Dowe Incorporated Preferred Stock

25,000

22,000
 

$65,000

$68,000

Instructions

(a) Prepare the adjusting entry (if any) for 2012, assuming the securities are classified as trading.

(b) Prepare the adjusting entry (if any) for 2012, assuming the securities are classified as available-for-sale.

(c) Discuss how the amounts reported in the financial statements are affected by the entries in (a) and (b).

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Feb 2018 06:02 PM My Price 6.00

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