Journ Co. purchased short-term investments in available-for-sale securities at a cost of $64,000 on November 25, 2017. At December 31, 2017, these securities had a fair value of $59,600. This is the first and only time the company has purchased such securities.
Prepare the December 31, 2017, year-end adjusting entry for the securities' portfolio and the April 6, 2018, entry when Journ sells one-half of these securities for $26,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Journ Co. purchased short-term investments in available-for-sale securities at a cost of $64,000 on November 25, 2017. At December 31, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A house sold for $39,379. The buyer paid 20% down. Monthly interest on the loan was $229.69. What was the annual interest rate on the loan?
Answers (1)
Susan saved $5000 per year in her retirement account for 10 years (during age 25-35) and then quit saving. However, she did not make any withdrawal until she turned 65 (i. e., 30 years after she stopped saving).
Answers (1)
Economists use the word marginal to mean an extra or additional benefit or cost of a decision. An optimal decision occurs when A. marginal cost is zero. B. marginal benefit is greater than marginal cost. C. marginal benefit is maximized. D.
Answers (1)
Markel is buying a new car but needs to keep his payments under $250.00 per month. He would also like to pay it off as quickly as possible so he can start saving for a vacation. Which option will meet both his budget and his vacation plans?
Answers (1)
Which of the following characteristics would you expect C & J Construction to have? Check all tha apply a. for employees, human relationship skills are particularly important, since they must work with senior managers to make decisions. b.
Answers (1)
New Questions in Business
Use what you have learned about managing credit to complete these sentences. Filing for bankruptcy can debt. A major consequence of bankruptcy is that it can an individual's chances of receiving additional credit.
Answers (1)
You are considering an investment in 30-year bonds issued by Moore Corporation. The bonds have no special covenants. The Wall Street Journal reports that 1-year T-bills are currently earning 1.90 percent.
Answers (1)
Whos the richeist family
Answers (1)
What type of organizational structure would a major nationwide insurance company use?
Answers (1)
What explanations have economists offered for why firms don't raise prices when doing so would seem to increase profits? Firms might not raise prices when doing so might increase profits because A.
Answers (1)