Market_Value_Solutions

Market_Value_Solutions - Market Value Exercises Solutions 9...

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9. Roller Coaster Coaster Investment Corp. Worksheets-Conventional Accounting Investment Investment Owners' Description Cash in stock in bonds equity Beg. bal., 2002 100,000 100,000 Investment in (90,000) 70,000 20,000 Adm. expenses (5,000) (5,000)E Dividends 4,000 4,000R Interest 2,000 2,000R __________________________________________________________________ Bal. 12/31/02 11,000 70,000 20,000 101,000 Adm expenses (1,250) (1,250)E Dividends 4,500 4,500R Interest 2,000 2,000R __________________________________________________________________ Bal. 12/31/03 16,250 70,000 20,000 106,250 Adm. expenses (2,000) (2,000)E Sale of stock 90,000 (70,000) 20,000G Sale of bonds * 18,000 (20,000) (2,000)L ___________________________________________________________________ Balances, 12/31/04 122,250 -0- -0- 122,250 ___________________________________________________________________ Roller Coaster Coaster Investment Corp. Conventional Accounting Income Statements For 2002, 2003, 2004 2002 2003 2004 Revenue: Dividends $4,000 $4,500 -0- Interest 2,000 2,000 -0- Total $6,000 $6,500 -0- Less: Adm. expense (5,000) (1,250) (2,000) Gain from sale of stock 20,000
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This note was uploaded on 05/24/2008 for the course ACC 203 taught by Professor Choi during the Spring '08 term at NYU.

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Market_Value_Solutions - Market Value Exercises Solutions 9...

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