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bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
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Polytechnic State University
Jan-2012 - Nov-2016

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Harvard Square Academy (HS2)
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Category > Accounting Posted 13 Jun 2017 My Price 5.00

Loreal-American Corporation purchased several marketable securities during

Loreal-American Corporation purchased several marketable securities during 2013. At December 31, 2013, the company had the investiments in commom stock listed below. None was held at the last reporting date, December 31, 2012, and all are considered securities available - for- sale . Cost fair Value Unrealized Holding Gain ( Loss) Short term: Blair Inc. $480.000 $405.000 $ ( 75.000) ANC Corporation 450.000 480.000 30.000 Totals $ 930.000 $885.000 $ ( 45.000 ) Long Term Drake Corporation $480.000 $ 560.000 $ 80.000 Aaron Industries 720.000 660.000 ( 60.000 ) Totals $ 1.200.000 $ 1.220.000 $ 20.000 Required: 1- Prepare the apropriate adjusting entry at December 31, 2013. 2- What amounts would be reported in the income statement at December 31, 2013, as a result of the adjusting entry ?

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Alpha Geek

(8)

Status NEW Posted 13 Jun 2017 07:06 AM My Price 5.00

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