Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on february 15, jewel company buys 6,300 shares of

On February 15, Jewel Company buys 6,300 shares of Marcelo Corp. at $28.70 per share....

70.2K

Verified Solution

Question

Accounting

image
On February 15, Jewel Company buys 6,300 shares of Marcelo Corp. at $28.70 per share. The purchase is classified as a stock Investment with insignificant influence. This is the company's first and only stock investment On March 15, Marcelo Corp declares a dividend of $1.22 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 30 and ultimately sells half of the Marcelo Corp, stock on November 17 of the current year for $29.48 per share. The fair value of the remaining shares is $29.68 per share at year-end. The amount that Jewel Company should report in the current year income statement from its investment in Marcelo Corp is. Multiple Choice Unrealized Loss-Equity, $3,087 Unrealized Gain-Income: $9,287

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

Mechanical Engineering
1.2K views

A pump operating at steady state receives 1.5 kg/s of liquid water at 50oC, 1.5 MPa....

Advance Math
1.2K views

6. The function f(t) = 0 for ? 2 ? t < ?1 ?1 for ? 1...

General Management
1.2K views

I wanna know if there are any examples of compliance with respect to clauses 4.1 -...

Physics
1.2K views

66 A simple pendulum is suspended from the ceiling of a car and its period...

Algebra
1.2K views

Let A be a 4x4 matrix with row vectors a?, a2, a3, a4 and determinant...

Algebra
1.2K views

4 Compute the SVD of the matrix 1 1 2 1 2 2 1 2

Accounting
1.2K views

If a financial planner is reviewing Janices estate documents, items to be concerned about include...

Accounting
1.2K views

Crane and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year...

Accounting
1.2K views

Chapter 10,F ework education.c flow/ nect.html ework i Saved Required information [The following information applies...

Accounting
1.2K views

Problem 12-28 (LO 12-2) ) The following information applies to the questions displayed below Yost...

Accounting
1.2K views

Menards provides an 11% rebate on all sales during the month of May. There were...

Accounting
1.2K views

Front Page Video Games - Part Deux Front Page Video Games loves the work you...