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

On February 15, Jewel Company buys bonds of Marcelo Corp for...

60.1K

Verified Solution

Question

Accounting

image
On February 15, Jewel Company buys bonds of Marcelo Corp for $200,400. The investment is classified as available-for-sale securities. This is the company's first and only investment in available-for-sale securities. On December 31, the bonds had a fair value of $201,100. The entry to record the year-end adjustment is Multiple Choice Debit Cash $700, credit Dividend Revenue $700 Debit Fair Value Adjustment-Available for Sale $700. credit Unrealized Gain-Equity 5700 Debit Cash $700, credit Gain on Sale of investments 5700

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Quickly scan the photo what do you notice first Describe the objects and people you...

Biology
Q

A 2 0 B 1 5 0 5 A D 1 0 B B 32...

Geometry
Q

briefly explain the ethical responsibilities financial mangers have in relation to the firms stakeholders

Finance
Q

Derive the probability distribution of the 1-year HPR on a 30-year U.S. Treasury bond with an...

Finance
Q

When using secure hash functions in an RSA signature, why do we sign the hash Sign...

Advance Math
Q

You are part of a team responsible for implementing an activity-based costing system. Some of the...

Accounting
Q

Which of the following are possible long term effects of diabetes?Select all that apply.A blindnessB...

Biology
Q

SE1 Describe the DNA damage caused by exposure to UV light and how it is...

Biology
Q

10 Given m 3 54 mAB x Find mAB 2 points D 3 X B...

Geometry
Q

24 Find the sum of the following series O A 261 B C n 1...

Algebra
Q

how do i journalize: purchased business equipment by taking out a long-term note payable for...

Accounting
Q

Please suggest, where should I keep my money? Islamic banking doesnt adequately address the inflation...

Finance