FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Entries for Stock Investments, Dividends, and Sale of Stock Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Feb. 24 Acquired 400 shares of Tett Co.'s stock for $105 per share plus a $148 brokerage commission. May 16 Acquired 1,600 shares of Issacson Co.'s stock for $26 per share plus a $80 commission. July 14 Sold 200 shares of Tett Co. stock for $117 per share less a $76 brokerage commission. Aug. 12 Sold 600 shares of Issacson Co. stock for $21 per share less a $65 brokerage commission. Oct. 31 Received dividends of $0.24 per share on Tett Co, stock. Dec. 31 At the end of the accounting period, the fair value of the remaining 200 shares of Tett Co.'s stock was $105.57 per share. The fair value of the remaining 1,000 shares of Isaacson Co.'s stock was equal to its cost of $26.05 per share. Journalize the entries for these transactions. In your computations, round per share…arrow_forwardWhen to use either the one in grey or yellow? They yield different results- for the one in grey i put t = to number of years *number of times a year compounded, as instructed in text from tutorarrow_forwardPlease help me with show all calculation thankuarrow_forward
- How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.arrow_forwardWhat is the present value of $3,000 to be received 2 years from now, if the discount rate is: (a) 9%, (b) 13%, and (c) 25%? 1. Use the appropriate table (Appendix C: Table 1) to answer the above questions. 2. Use the formula shown at the bottom of Appendix C, Table 1, to answer the above questions. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the appropriate table (Appendix C: Table 1) to answer the above questions. (Round your answers to the nearest whole dollar amount.) (a) (b) (c) Discount Rate 9% 13% 25% $ GAGA $ X Answer is complete but not entirely correct. $ Present Values 1 x 1 x 1 xarrow_forwardNeed only handwritten solution only (not typed one).arrow_forward
- please help me provide complete and correct answer for all requirements with all working for all parts answer in text please answer correct please remember answer all requirements or skip /leave for other expert thanks million thanks please double underline need answer for all requirements or skip please do not waste time or question by giving incomplete or incorrect answer please no copy paste from other answerarrow_forward19. for simple interest FIND THE UNKNOWN QUANTITY FOR EVERY GIVEN CONDITION (show your solution submit to classwork) t= 1 1/2 years, r = 10% F= P50,000 Find P and | *arrow_forwardUsing formulas, no tables, correct answer= 6,962.6, can you try again?arrow_forward
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