QUESTION 3 During the year the company purchased equipment through the issuance of common stock. The stock had a par value of $200,000 and a fair value of $350,000. The fair value of the equipment was not easily determinable. The company incorrectly recorded this transaction as follows: Equipment 200,000 Common Stock 200,000 Provide the entry that the company should have recorded in the form below (omit explanations) Copy the table below and answer in the space provided

H1. Account

22. During 2022, Haggard Company purchased marketable equity securities for P 1,850,000 to be held as trading investments. In 2022, the entity appropriately reported an unrealized loss of P 200,000 in the income statement. There was no change during 2022 in the composition of the portfolio of trading securities. Pertinent data on December 31, 2023 are: Security Cost  Market value Inc (Dec) A 600,000 700,000 100,000 B 450,000 400,000 (50,000) C 800,000 900,000 100,000 Net Increase     150,000   What amount of unrealized gain on these securities  should be included  in the 2021 income  statement?

I got the first two parts, but could you explain to me how to find part C?

Gawain's balance sheet for at 31/12/X1 is shown below Buildings Equipment Inventory Cash & Receivables £'000 £'000 450 2,100 £1NV Shares Reserves 1800 975 1,075 150 10% Loan Stock Payables 600 400 3,775 Equity & Liabilities 3,775 Assets Assume that new plant could have been purchased on 01/01/X1 as follows: a) Buy new plant (fair value £600,000, life 6 years) from a 2:9 rights issue made at a premium of 50p per share. b) Instead, lease this plant over 6 years with interest at 20% together with annual repayments of £180,000. Prepare amended balance sheets at 31/12/X1 for each option a) and b) above. c) Contrast Finance Leases with Operating Leases

Founded on January 1, 20X1, Gehl Company had the following passive investments in equity securities at the end of 20X1 and 20X2:   Equity Security Cost 12/31/X2 Fair Value A $ 96,000 $ 94,000   B   184,000   162,000   C   126,000   136,000       Required: If the company recorded a $4,000 debit to its Fair value adjustment account as its 20X2 fair value adjustment, what must have been the unrealized gain or loss reported at the end of 20X1?

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Assignment for ACG3111 This is the problem: The accounting records of Jamaican Importers, Inc., at January 1, 2018, included the following: Assets: Investments in IBM common shares                     1,845,000 Less: Fair Value Adjustment                                    (195,000)                                                                                    1,650,000 No changes occurred during 2018 in the investment portfolio. Prepare appropriate adjusting entries at Dec 31, 2018, assuming that the values of the common share were: 1,315,000 My question is if this problem is relating to an AFS security, the unrealized holding loss on AFS investment would be debited to OCI instead of NI. However, when I did my homework, it seems that the correct answer is unrealized holding loss on AFS investment - NI.  Could you tell me the explanation behind this answer, please?

The following trial balance has been extracted from the books of account of Beta Co at 31 March 2021: s00 S00 Administrative expenses 210 Called up share capital (ordinary shares of $1 fully paid) Trade receivables 600 470 Bank overdraft 80 Income tax (overprovision in previous year) Provision for retirement benefit costs Distribution costs Non-current asset investments Investment income 25 180 420 560 75 Plant and equipment At cost 750 Accumulated depreciation (at 31 March 2021) Retained earnings (at 1 April 2020) Purchases 220 240 960 Inventories (at 1 April 2020) Trade payables 140 260 Revenue 1,950 Interim dividend paid 120 3.630 3.630 Additional information Inventories at 31 March 2021 were valued at $ 150,000. Required: In so far as the information permits, prepare the company's income statement for the year to 31 March 2021, a statement of financial position at that date and a statement of changes in equity.