Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. what's wrong with those 4 answers????? problem 1

What's wrong with those 4 answers????? Problem 17-11 Nash Corp. invested its excess...

90.2K

Verified Solution

Question

Accounting

What's wrong with those 4 answers?????

imageimageimage

Problem 17-11 Nash Corp. invested its excess cash in securities during 2017. As of December 31, 2017, the securities portfolio consisted of the following common stocks Quantity 1,000 shares 2,100 shares 2,100 shares Security Cost Lindsay Jones, Inc. Poley Corp Arnold Aircraft Fair Value $21,000 42,200 59,300 Totals $126,500 $122,500 $15,000 40,100 71,400 Your answer is correct. What should be reported on Nash's December 31, 2017, balance sheet relative to these securities? What should be reported on Fernandez's 2017 income statement? (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Nash Corp. Balance Sheet (Partial) December 31, 2017 Current Assets Equity Investments 122500 Income Statement For the Year Ended December 31, 2017 Other Expenses and Losses Unrealized Holding Gain or Loss - Equity 4000

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

In a randomly selected sample of 500 registered voters in a community, 120 individuals say that...

Statistics
Q

Solve SVM for a data set with 3 data instances in 2 dimensions: (1,1,+), (-1,1,-),(0,-1,-). Here...

Advance Math
Q

Write a broad description of how the cranial characteristics of the forehead changed over time. Going...

Medical Sciences
Q

Assuming that there are no losses of energy to friction, how much work must the motor...

Physics
Q

A hula hoop has a radius of 19 inches What is the length of the...

Geometry
Q

90 AD 10 73 10 8 642 2 y up of O NO 6 8...

Basic Math
Q

A researcher has decided to test the effectivness of a drug meant to reduce high...

Statistics
Q

20 points Let C and D be independent events with P C 0 35 P...

Statistics
Q

1.Villa Foods International provides food and beverage services to institutional facilities like school and hospitals....

Accounting
Q

WHL #JU Ullions Question 5 3 pts On Aug...

Accounting
Q

Berry Co. purchases a patent on January 1, 2018, for $37,000 and the patent has...

Accounting
Q

Clark, a widower, maintains a household for himself and his two dependent preschool children. For...

Accounting