Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. loreal-american corporation purchased several mark

Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had...

90.2K

Verified Solution

Question

Accounting

imageimage

Loreal-American Corporation purchased several marketable securities during 2018. At December 31, 2018, the company had the investments in bonds listed below. None was held at the last reporting date, December 31, 2017, and all are considered securities available-for-sale Unrealized Holding Cost Fair Value Gain (Loss) $ (114,000) $ (71,000) $ 67,000 $ 33,000 Short term: Blair, Inc ANC Corporation $ 506,000 392,000 463,000 506,000 43,000 Totals $ 969,000 898,000 Long term: Drake Corporation 506,000 573,000 673,000 $1,213,000 $1,246,000 Aaron Industries 707,000 34,000) Totals Required: 1. Prepare appropriate adjusting entries at December 31, 2018. (If no entry is required for a transaction/event, select "No ournal entry required" in the first account field.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

The manager of computer operation of a large company wants to study computer usage of two...

Basic Math
1.2K views

In a dinner party of 290 persons in attendance 181 of them drink malt 142...

Basic Math
1.2K views

The beachfront path was 4,848 feet long.A tropical storm caused waves that washed away 3,383feet...

Calculus
1.2K views

ex dx 1 e2x A sin 1 ex C C 2 1 e2x C B...

Accounting
1.2K views

How much of the equipment cost is recovered per year if the purchase price of...

Accounting
1.2K views

Stock transactions. On February 1, 2016, Roddy purchased 400 shares of Golf Co....

Accounting
1.2K views

Halifax Manufacturing...

Accounting
1.2K views

All of the following statements are true except: ...

Accounting
1.2K views

please help Data table x

Accounting
1.2K views

Amartha Corp acquired 80% of Qoala Corp's outstanding ordinary shares in cash at a price...

Accounting
1.2K views

On January 1, 2017, Richards Inc. had cash and common stock of $60,000. At that...

Finance
1.2K views

Two firms are competing on a market with demand P=473Q by sequentially choosing how much...