On April 1, 2024, Sunland Company purchased 35,200 common shares in Ecotown Ltd. for $13 per share. Management has designated the investment as FVTOCI. On December 5 . Ecotown paid dividends of $0.10 per share and its shares were trading at $15 per share on December 31 . Prepare the required entries to record the purchase, dividends, and year-end adjusting journal entry (if any) for this investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit. entries.)

Answers

Answer 1

The Sunland Company is a firm that has purchased 35,200 common shares in Ecotown Ltd for $13 per share. They have designated this investment as The Sunland Company is a firm that has purchased 35,200 common shares in Ecotown Ltd for $13 per share. They have designated this investment as Fair Value through Other Comprehensive Income (FVTOCI). On December 5, the Ecotown pays dividends of $0.10 per share and on December 31, its shares are trading at $15 per share. The journal entries that must be made to record the purchase, dividends, and year-end adjusting journal entry (if any) for this investment are as follows:

April 1, 2024 Entry:

Cash 457,600

Investment in Ecotown 457,600

(To record the purchase of 35,200 shares in Ecotown)

December 5, 2024 Entry:

Cash (35,200 × $0.10) 3,520

Investment in Ecotown 3,520

(To record the dividend received from Ecotown)

December 31, 2024 Entry:

Investment in Ecotown 35,200

Unrealized Gain on Investment 17,600

(To record the fair value adjustment)

The following is the computation for the adjustment on December 31, 2024:

The total investment's cost is $457,600 ($13 × 35,200).

The fair value of the investment on December 31 is $528,000 ($15 × 35,200).

The unrealized gain is $70,400 ($528,000 − $457,600).

The unrealized gain recognized in 2024 is $17,600 ($70,400 × 25%).

The adjustment is necessary to reflect the current fair value of the investment. In this instance, it resulted in a gain for the Sunland Company. On December 5, the Ecotown pays dividends of $0.10 per share and on December 31, its shares are trading at $15 per share. The journal entries that must be made to record the purchase, dividends, and year-end adjusting journal entry (if any) for this investment are as follows:

April 1, 2024 Entry:

Cash 457,600

Investment in Ecotown 457,600

(To record the purchase of 35,200 shares in Ecotown)

December 5, 2024 Entry:

Cash (35,200 × $0.10) 3,520

Investment in Ecotown 3,520

(To record the dividend received from Ecotown)

December 31, 2024 Entry:

Investment in Ecotown 35,200

Unrealized Gain on Investment 17,600

(To record the fair value adjustment)

The following is the computation for the adjustment on December 31, 2024:

The total investment's cost is $457,600 ($13 × 35,200).

The fair value of the investment on December 31 is $528,000 ($15 × 35,200).

The unrealized gain is $70,400 ($528,000 − $457,600).

The unrealized gain recognized in 2024 is $17,600 ($70,400 × 25%).

The adjustment is necessary to reflect the current fair value of the investment. In this instance, it resulted in a gain for the Sunland Company.

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Related Questions

Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year
5/1 ARM at 3.5% with a 2/7 cap structure. What will the remaining balance be after the first 5 years?

a $396,038.65
b$427,354.28
c $407,836.29
d $377,238.57

Answers

Answer:

D

Explanation:

The remaining balance on a 20-year 5/1 ARM at 3.5% interest with a 2/7 cap structure after 5 years will be $377,238.57.

Pro life tip: Do NOT finance your home with an ARM mortgage.

Good luck in your studies!

A new parent-focused website is adding a blog to attract readers. Which of the following elements are likely to be discussed at the project plan approval meeting?

a.)
The editing guidelines document for the new blog

b.)
Preferred methods for communicating schedule changes

c.)
A list of topics that will be covered each week in the new blog

d.)
A review of the number of days assigned to testing the changes to the website

Answers

Answer: d

Explanation: :()

help help help help

help help help help

Answers

Based on the different types of compensation and their determination, the following are true:

Wages - Paid by the Hour - Sarah's direct deposit. Commission -  A percentage of sales - Lucinda's percentage. Salary - Calculated weekly or monthly - Frank's overtime pay.  Bonuses - For performance - Janet's Low Sales. Profit sharing - Based on Co. earnings - Robert's year end reward.

Types of compensation

Wages are calculated by the hour and then paid to the relevant employee sometimes in cash or by direct debit. Commissions are a percentage of sales.

Salaries are calculate monthly or weekly and include overtime. Bonuses are based on performance so people who don't perform well don't get much. Profit sharing depends on how much a company makes in a year and are distributed at the end of the year.

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In FITT-VP, volume is the product of all of the following EXCEPT:
1. Frequency
2. Intensity
3. Time
4. Type

Answers

In the FITT-VP principle, volume refers to the amount of exercise performed and is determined by multiplying the frequency, intensity, time, and type of activity.

All of these factors contribute to the overall volume of exercise performed. However, the question specifically asks for the factor that is NOT included in the calculation of volume. Thus, the answer is 4. Type. While the type of activity is important in designing an exercise program, it does not directly contribute to the calculation of volume. Instead, it helps to ensure that the exercise program is well-rounded and includes activities that target different muscle groups and energy systems. To sum up, in the FITT-VP principle, volume is the product of frequency, intensity, and time, and is not influenced by the type of activity. Understanding this principle is essential for designing effective exercise programs that can help individuals achieve their health and fitness goals.

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John And Mary’s Budget And Balance Sheet Assignment Instructions Please Use This Case Study And The Assumptions And

Answers

John and Mary’s budget and balance sheet are essential components of their financial planning. It is crucial to create and maintain a budget and balance sheet to ensure that one is living within their means and achieving their financial goals. In this case study, John and Mary are a married couple with a combined income of $90,000 per year.

Their expenses include rent, groceries, utilities, transportation, and other miscellaneous expenses. John and Mary's budget has a few key assumptions. First, they assume that they will continue to earn a combined income of $90,000 per year. They also assume that they will save 20% of their income for emergencies and future goals.

In conclusion, creating and maintaining a budget and balance sheet is essential for achieving financial goals. By tracking income and expenses and calculating net worth, John and Mary can make informed decisions about their spending and saving.

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how can the tragedy of the commons be averted? the government can implement a cap and trade policy. the parties involved can engage in public bargaining. ownership rights can be assigned. the government can assess corrective taxes.

Answers

Ownership rights can be assigned So, that the tragedy of the commons be averted.

For non-excluded yet competitive products, tragedy of the commons occurs. This implies that nobody cannot be denied the opportunity to enjoy something. But when some individuals utilize a thing, it becomes less useful to other others who also want to use it. Thus, there is a tragedy propensity to consume these resources excessively in general. No one is prepared to pay for these things because they cannot be averted excluded. Degradation of the resources on common land results from overuse. The tragedy of the commons is this situation.

A cap and trade policy places a restriction on how much of a resource can be used, and the limits can be established by granting permits to do so. These licenses can be exchanged. For resources that belong to averted everyone, though, this won't work. The best policies for negative tragedy externalities are cap and trade ones.

Corrective taxes won't work since no one will be willing to pay them and because people don't have any rights to the goods.

The resource becomes excludable if ownership is transferred to tragedy corporate or governmental bodies. The definition of property rights. There are ways to prevent commons tragedy.

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Which descriptions are examples of Facility and Mobile Equipment Maintenance workers?
Check all that apply.
(there’s probably around 3)


Jonathan tests and fixes systems for helicopters.

Angel analyzes ways to improve the flow of traffic.

Sarah cleans and services diesel engines for boats.

Damon loads cargo into ships.
Ariel repairs bicycles for customers.

Heather takes passengers to destinations in a taxi.

Answers

Answer:

1)Jonathan tests and fixes systems for helicopters.

3)Sarah cleans and services diesel engines for boats.

5)Ariel repairs bicycles for customers.

Explanation:

I just put these answers on edge and got them right :)

Answer:

1,3,and 5

Explanation:

Which descriptions are examples of Facility and Mobile Equipment Maintenance workers? Check all that

According to Truth, what is the “fix” that white men are in? What details does Truth use to support that idea?

Answers

The "solution" is the fact that African Americans and women are beginning to fight for their rights, which will result in a shift in the role that white men have traditionally played.

What is the  “fix” ?

Generally, Truth was attempting to convince people that women, regardless of race or ethnicity, should be given the same respect as males. They ought to be granted the same privileges as males.

The "solution" is the fact that African Americans and women are starting to fight for their rights, which will result in a change in the role that white males have historically performed. This will cause a shift in the "problem" that we are trying to solve.

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You are the pm for a new development project. you are creating a prioritized list of project risks. which tool would you use?

Answers

An effective tool for managing risk is a risk assessment matrix, commonly referred to as a risk probability impact matrix or risk PI matrix.

What is risk PI matrix?

An effective tool for managing risk is a risk assessment matrix, commonly referred to as a risk probability impact matrix or risk PI matrix. It functions by classifying hazards according to their likelihood of happening and the degree of harm they would cause if they did. The risk management process (RMP) is used by principal inspectors (PI) to record, monitor, and assess the status of existing hazards and the risks that go along with them.

A process, product feature, contract, or other initiative's complexity is measured using a value-risk matrix. The value/risk matrix is helpful for project or product creation, category management, contract management, and sourcing strategy.

A project risk is a hazard that could happen or not during the project. Contrary to what we typically associate with the word "risk," a project risk could either have a positive or negative impact on the progress of the project's goals. Risk management is the process of reducing project risks to ensure that a project is finished on schedule, within budget, and in accordance with its objectives.

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'Money is what money can buy' and 'Money is that which money does'.
Would you say the two statements above mean the same thing or are similar in any form ?
Give reason for your answer.

Answers

they are the same however the first quote is more specific

money IS what money can buy, but the money itself is currency (the same thing). basically the first quote is just paraphrasing

There's a lot to know before you use credit for the
first time. First and most obvious, you have to pay
back what you borrow. Every month you'll have a
due. This is the smallest amount
Select One
you can pay without accruing fees. Because of
interest, you'll have to pay back more than the
Select One
you initially borrowed. You should
also know that there's a ceiling for how much you can
borrow at once. This is called your
Select One
It can be a lot to juggle what
you're spending and what you owe, so a budgeting
method like Select One
I can help you get a
handle on everything.

Answers

Note that in the above credit scenario, this is the smallest amount you can pay without accruing fees.

What are the fees related to credit?

It is the consumer's overall credit cost represented as a percentage of the total credit amount on a yearly basis.

Take note that credit improves your financial flow. It's handy since you don't have to spend a lot of money.

It is extremely useful when you need money for an emergency such as illness, property loss, or death. When you run out of funds, it allows you to buy products that are immediately required.

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the board of directors is charged with protecting the rights of

Answers

Answer:

the organization's assets and member's investment.

The board of directors is charged with protecting the rights of the organization's assets and member's investment.

What is member's investment?

Investor Members, also known as "Subscribers," are Members who have contributed capital to the company. Brokerage accounts, Individual Retirement Accounts, education accounts, and employer-sponsored retirement plans are the four main types of investment accounts available to U.S. investors who want to achieve financial goals by investing in stocks.

Included among our 200+ full members are independent niche providers, independent stand-alone investment management companies, retail banking and investment banking conglomerates, and occupational pension plan managers.

Thus, organization's assets and member's investment.

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Suzy has led a difficult life in which feeding her children is a daily struggle. while she does have favorite brands, she can rarely afford them and often must go without. she is a _______.

Answers

While she does have favorite brands, she can rarely afford them and often must go without. She is a struggling mother.

Suzy's situation indicates that she is facing financial hardship and struggles to make ends meet, which could classify her as a low-income or impoverished individual. The term commonly used to describe individuals or families experiencing financial hardship is "economically disadvantaged. "In this particular case, Suzy's situation indicates that she has a limited budget, which restricts her ability to purchase her preferred or favorite brands, leading her to face daily struggles to feed her children.

Therefore, she can be described as a financially constrained or economically disadvantaged individual.

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what connection does the author make between the growth of the american service economy and american mothers

Answers

The author connects the growth of the American service economy to American mothers by highlighting the fact that a large proportion of the people employed in the service sector are female, and that many of these women are mothers.

The author argues that the increasing demand for services, which often require flexible working hours and other family-friendly arrangements, has created more job opportunities for mothers.

This has allowed them to provide better financial security for their families and to be more involved in their children’s lives.

Moreover, the author argues that the service economy has also allowed American mothers to have a greater role in shaping public policy, since they now have more time and resources to become activists and engage in politics.

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A market that consists of all the individuals and organizations that want goods and services to use in producing other goods and services is called the:

Answers

A market that consists of all the individuals and organisations that want goods and services to use in producing other goods and services is called "business to business market".

What is business to business marketing?

Business-to-business (B2B) marketing refers to any approach or content used by one company to target and sell to another company. For instance, B2B marketing is frequently used by businesses that sell goods and  services to other businesses or organisations.

Key feature of B2B marketing are-

few consumers as a percentage of all consumers.enormous orders.It is possible to create a relationship between the customer and the seller.Prospective clients are simple to identify and segment.A purchase involves a larger number of people.

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how can a firm best achieve sustainable competitive advantage? by neglecting environmental forces by relentlessly pursuing its vision independent of the means to achieve it by continually adapting to changes in the external trends and developing internal resources by complying with existing strategic plans by recycling materials used in the operation processes

Answers

A firm can best achieve sustainable competitive advantage by continually adapting to changes in the external trends and developing internal resources. The correct option is by continually adapting to changes in the external trends and developing internal resources.

This involves staying aware of and responsive to environmental forces such as changing market conditions, new technologies, and evolving customer needs. By focusing on innovation and improving efficiency through recycling materials used in the operation processes, a firm can maintain its competitive edge while also contributing to sustainable practices.

Neglecting environmental forces or relentlessly pursuing a vision independent of the means to achieve it may lead to short-term success but is unlikely to sustain the business in the long run. Complying with existing strategic plans can also help, but it is important to remain flexible and adaptable to changes. The correct option is by continually adapting to changes in the external trends and developing internal resources.

The complete question is:

how can a firm best achieve sustainable competitive advantage?

by neglecting environmental forces

by relentlessly pursuing its vision independent of the means to achieve it

by continually adapting to changes in the external trends and developing internal resources

by complying with existing strategic plans

by recycling materials used in the operation processes

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The nominal exchange rate between the Lebanese pound (LP) and the UAE dirham (AED) 0.002AEDLP. The price of gasoline in Lebanon of 1.500 LP per gallon while the price of gasoline in the UAE of 4 AED per gallon. If Lebanon is the foreign country. The real exchange rate is ______ if purchassing power party holds between the two countries the nominal exchange rate between the Lebanese Pound and the UAE dirham should be ______ a. 0.75 gallons of gasoline in Lebanon per gallon of gasoline in the UAE: 0.002 AED per LP b. 1.33 gallons of gasoline in the UAE per gallon of gasoline in Lebanon: 0.002 LP per AED c. 0.75 gallons of gasoline in the UAE per gallon of gasoline in Lebanon: 375 PP per AED d. 1.33 gallions of gasoline in Lebanon per gallon of gasoline in the UAE: 375 L per AED

Answers

The correct answer for the real exchange rate is option (a) 0.75 gallons of gasoline in Lebanon per gallon of gasoline in the UAE. For the purchasing power parity to hold between the two countries, the nominal exchange rate between the Lebanese Pound and the UAE dirham should be an option (d) 375 L per AED.

The real exchange rate is a measure that accounts for the relative purchasing power of two currencies. It represents the rate at which goods and services in one country can be exchanged for goods and services in another country, adjusting for price differences.

To calculate the real exchange rate, we divide the price of gasoline in Lebanon (1.500 LP per gallon) by the price of gasoline in the UAE (4 AED per gallon):

1.500 LP per gallon / 4 AED per gallon = 0.375 gallons of gasoline in Lebanon per gallon of gasoline in the UAE.

Therefore, the real exchange rate is a) 0.75 gallons of gasoline in Lebanon per gallon of gasoline in the UAE, and the nominal exchange rate should be d) 375 L per AED for purchasing power parity to hold.

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YOOOOOOOOOOO just wanted to say

Answers

Answer:

wassup

Explanation:

whats a good website to create an anime blog

Answers

Best Blogging Sites: WordPress.org for complete control. WordPress.com makes it easy to get started. Ghost as a WordPress alternative. Wix makes it easy to create multiple blogs.

Blogger can use its own domain for free. Examples of blog posts include beauty product recommendations, travel and vacation reviews, and personal blog posts. Where does most of the money for cartoonists come from? Royalty payments for collected volumes or tank subscriptions are the biggest part of a cartoonist's money. In 2009, the average cartoonist (comics not published in jumps or magazines) paid for his It was estimated that he earned 2.8 million yen in royalties.

Anime animators are professionals who create specific genres of Japanese manga. Draw pictures by hand and use computer software to transform them into digital animations.

The possibilities for blogging are virtually endless. Adam Enfroy, who started blogging about blogging as a side business in 2019, just two years later made his $1.5 million from the blog. 

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Answer:

Red-dit and In-stagram.

Don’t ask me why I have years of experience.

(`_>´)ゞ

Sammy owns a landscape development company. the majority of his clients want to upgrade their yards. they are normally young, married and have moderate incomes. what kind of social media platform would be best for promoting his latest landscaping projects to more people like his current clients

Answers

Based on the demographic of Sammy's current clients, a social media platform like social media would be the best choice for promoting his latest landscaping projects to more people like his current clients.

social media  is a widely used platform that has a broad range of users, including many young adults and families with moderate incomes. This platform is ideal for sharing pictures and descriptions of landscape projects and communicating with potential clients through messaging and comments.

social media is a visually-driven social media platform that can also be effective for promoting landscape design projects. It has a younger user base, including many young adults and families, making it an ideal platform for reaching Sammy's target demographic

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which is a one- or two-page account of the essential information in a report? executive summary bibliography background recommendations

Answers

An executive summary is a one- or two-page account of the essential information in a report. It provides a brief overview of the report's main points, findings, and conclusions, allowing readers to quickly understand the content without having to read the entire document.

The executive summary is typically located at the beginning of the report and is intended to help decision-makers and other stakeholders determine if the full report is worth reading further.
Here's a step-by-step explanation of what an executive summary should include:
1. Start with a brief introduction: Provide an overview of the report's purpose and scope. This may include the research question or problem that the report addresses, as well as the methodology used to gather data and analyze findings.
2. Present the main findings: Summarize the most important results and findings from the report. This may include data, trends, or patterns that were discovered during the research process.
3. Highlight key conclusions: Explain the significance of the findings and what they mean for the problem or question being studied. This may involve discussing the implications of the results or any limitations that were encountered during the research process.
4. Offer recommendations: Based on the findings and conclusions, provide a few actionable recommendations for decision-makers or other stakeholders to consider. These should be relevant to the report's objectives and well-supported by the research.
Note that an executive summary should not include a bibliography, background information, or a detailed list of recommendations, as these elements belong in the main body of the report. Instead, the executive summary should provide a concise, high-level overview of the report's essential information.

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Many entire vocations in the United States have disappeared in the last few decades. What if the following is a possible explanation for why vocations have entirely disappeared the last few decades?

Answers

A possible explanation for the disappearance of vocations in the past decade is advancement in technology.

With advancement in technology, many jobs have become obsolete as they can be performed more efficiently by computers compared with humans. For example, there are some record keeping tasks that people were employed to carry out but with the invention of efficient technology, humans are no longer to perform this functions.

 Another job that is been rendered obsolete by technology is the job of a librarian. Most of the job functions carried out by a librarian can now be carried out computers.

Technology rendering jobs obsolete increases the rate of structural unemployment. This unemployment occurs when the skill labour posses are no longer demanded for in the economy.

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Answer:

The low cost of foreign goods could cause manufacturing to be done overseas

A voucher system establishes procedures for verifying, approving, and recording liabilities for cash payment. Group startsTrue or False

Answers

True. A voucher system is a set of procedures that are put in place to verify, approve, and record liabilities for cash payments.

The purpose of a voucher system is to ensure that all cash payments made by a company are properly authorized and supported by appropriate documentation.

The voucher system typically involves several steps. First, a purchase request is submitted by an authorized employee. This request is then reviewed and approved by the appropriate personnel. Once approved, a purchase order is generated and sent to the supplier.

When the goods or services are received, the supplier sends an invoice, which is then matched with the purchase order and the receiving report. This three-way match helps to verify that the goods or services were received as ordered and that the amount on the invoice is accurate.

Once the match is confirmed, a voucher is created and recorded in the accounting system. This voucher serves as evidence of the liability for the cash payment. Finally, the payment is made and the voucher is marked as paid.

By establishing these procedures, a voucher system helps to ensure proper control over cash payments and reduces the risk of unauthorized or fraudulent payments.

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On an 8% straight term loan of $6,071 the borrower paid total interest of $1,700. What is the term of the loan?

Answers

Answer:

Time taken for loan (T) = 42 mount

Explanation:

Given:

Rate of interest (r) = 8% = 0.08

Loan amount (P) = $6,071

Interest amount (I) = $1,700

Find:

Time taken for loan (T)

Computation:

I = PRT

1,700 = [6,071][0.08][T]

T = 1700 / 485.68

T = 3.5 year

Time taken for loan (T) = 3.5 × 12

Time taken for loan (T) = 42 mount

Operational data are commonly stored in many tables, and the stored data represents information about a given _____ only.

Answers

Operational data are commonly stored in many tables, and the stored data represents information about a given transaction only.

What was the biggest challenge to getting the airplane to fly

Answers

Answer:by usin rocket flue that’s what my 8th grade teacher said -Tokyo

Explanation:

Answer:

Wings with enough surface area and the proper curve to provide lift.

A means to control the direction of the aircraft's movement.

A lightweight source of power.

Explanation:

Is it wright brothers???

The first institution to contact if you know you have been an identity theft victim is

Answers

The first institution that should be contacted in the case of identity theft is the Federal Trade Commission (FTC).

Why should you contact the Federal Trade Commission (FTC)?

If you have fallen victim to identity fraud, you should call the Federal Trade Commission immediately.

They will then help you report to the relevant law enforcement agencies such as the FBI and local police.

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the most common occupational frauds in small businesses involve employees doing all of the following except: a. altering financial statement. b. skimming revenues. c. processing fraudulent invoices. d. fraudulently writing company checks.

Answers

The most common occupational frauds in small businesses involve employees doing all of the following except altering financial statements. Therefore, the correct option is a. altering the financial statement.

The other three options - skimming revenues, processing fraudulent invoices, and fraudulently writing company checks - are all common types of occupational fraud that employees can commit in small businesses.

Skimming involves stealing cash or other assets before they are recorded on the company's books, and can be done by employees who handle cash or manage customer payments.

Processing fraudulent invoices involves creating or approving invoices for goods or services that were not actually received, and then diverting the payments to personal accounts or using them for personal expenses.

Fraudulently writing company checks involves creating or altering checks to divert company funds to personal accounts or to pay for personal expenses. This can be done by employees who have access to the company's checkbook or who are responsible for processing payments.

Alteration of financial statements is a more complex fraud that typically involves senior management or accounting personnel. It involves manipulating the company's financial statements to conceal losses, inflate profits, or misrepresent the company's financial position. While this type of fraud can occur in small businesses, it is less common than the other three types mentioned above.

Therefore, the correct option is a. altering the financial statement.

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Foundersuite, Quirky and Unassumer are Web sites that provide access t:
A) feedback on business ideas.
B) landing pages.
C) surveys.
D) prototyping services.
E) market research.

Answers

Foundersuite, Quirky, and Unassumer are websites that provide access to option A) i.e. Feedback on business ideas.

Foundersuite, Quirky, and Unassumer are websites that offer access to feedback on business ideas. These platforms allow users to share their innovative concepts and receive valuable input from others, including potential customers and industry experts.

Foundersuite, for example, is a web site that provides access to a suite of tools and resources for entrepreneurs, including pitch decks, financial models, and investor updates. The site also offers a platform for startups to connect with investors and advisors.

Quirky, on the other hand, is a web site that provides access to a community of inventors and designers who can help turn ideas into products. The site offers resources for product development, prototyping, and manufacturing.

Unassumer is a web site that provides access to market research and data analysis tools.

This feedback can help entrepreneurs refine their ideas, identify potential challenges, and develop more successful business strategies. By using these websites, aspiring business owners can improve their ideas and increase the likelihood of their ventures succeeding in the market.

Therefore, option A is the correct answer.

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1. Which of the following are tasks associated with business administration positions? (2 poi
Select the two that apply.
answering phones
designing goods for production
delivering goods to market
maintaining records
repairing computers

Answers

Answer:It's A

Explanation: Took the test

Other Questions
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