Homework Quiz—13 S11 Section 2

Homework Quiz—13 S11 Section 2 - Spring 11...

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Unformatted text preview: Spring 11 Homework Quiz —13 Section 2 Name Section Transaction 1. On 2/1 ABC Company purchased Available for Sale securities for $130,000 including $30,000 of accrued interest. 2. On 12/31 ABC Company recorded an Unrealized Holding Gain for Available for Sale securities in the amount of $62,000. 3. On 12/31 ABC Company recorded an Unrealized holding Gain for Trading securities in the amount of $55,000. 4. For the year ended 12/31/10 ABC Company recognized its 35% share of XYZ’s earnings (XYZ Earnings = $700,000) and dividends (XYZ Dividends in cash = $95,000) arising from its investment in XYZ Corporation. ABC has significant influence but not control over XYZ. Put the Journal Entry for Transaction 1 in the table below: Put the Journal Entry for Transaction 2 in the table below: Put the Journal Entry for Transaction 3 in the table below: Put the Journal Entry for Transaction 4 in the table below: 1 Spring 11 Homework Quiz —13 Section 2 Name Section Transaction 1. On 2/1 ABC Company purchased Available for Sale securities for $130,000 including...
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This note was uploaded on 03/03/2012 for the course MGMT 351 taught by Professor Staff during the Spring '08 term at Purdue.

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Homework Quiz—13 S11 Section 2 - Spring 11...

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