Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. oriole corporation buys 1530 shares of sheridan lt

Oriole Corporation buys 1530 shares of Sheridan Ltd.'s common shares as a trading investment. The...

70.2K

Verified Solution

Question

Accounting

Oriole Corporation buys 1530 shares of Sheridan Ltd.'s common shares as a trading investment. The shares are purchased for $44 a share. At year end the shares are trading at $50. The adjusting entry at year end is Cash Investment Income Trading Investments Unrealized Gain on Trading Investments Trading Investments Realized Gain on Trading Investments 9180 9180 9180 9180 9180 9180 k SUPP
image
Oriole Corporation buys 1530 shares of Sheridan Ltd's common shares as a trading investment. The shares are purchased for $44a share. At year end the shares are trading at $50. The adfusting entry at year end is \begin{tabular}{|c|c|} \hline Cash & 9180 \\ \hline Investment Income & \\ \hline Trading Investments & 9180 \\ \hline Unrealized Gain on Trading Imvestments & \\ \hline \end{tabular}

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 following matrix is in reduced row echelon form. Decode from the matrix the solution of...

Psychology
1.2K views

Read the excerpts by Seyyed Hosein Nasr and Daud Sutton. Explain the relationship between the concept...

Advance Math
1.2K views

Find the lagrange polynomials that approximate f(x) = x3 a ) Find the linear interpolation polynomial P1(x) using...

Physics
1.2K views

In compound microscope the magnification is 95 and the distance of object from objective lens...

Accounting
1.2K views

Sadie received $66,600 of compensation from her employer and she received $450 of interest from...

Accounting
1.2K views

ASSIGNMENT #1 DEVELOP A WEIGHTED COST OF CAPITAL AND BUDGET FOR A COMPANY ...

Accounting
1.2K views

I need help figuring out the asset amount. Thank you! Eta Corporation approaches...

Accounting
1.2K views

On March 1, 2021, Stratford Lighting issued 10% bonds, dated March 1, with a face...

Accounting
1.2K views

Audit program and a simple draft audit report Casey gas station convenience stores. ...

Accounting
1.2K views

On January 2, 2017, Ayayai Company sells production equipment to Fargo Inc. for $55,000. Ayayai...

Accounting
1.2K views

In the current year, Norris, an individual, has $60,000 of ordinary income, a net short-term...

Accounting
1.2K views

(a) (a) Your answer is partially correct. Prepare an instalment payment...