ValleyView Company acquires common stock of Kansas Enterprises for $400,000 on November 1, 2013, and designates this investment as available-for-sale. The fair value of these shares is $435,000 on December 31, 2013 . ValleyView sells these shares on August 15, 2014, for $480,000. (Refer to ValleyView.) The total income from the purchase and sale of these securities is _____ reported _____
a. $80,000; in the year of sale.
b. $80,000; as they occur.
c. $35,000; in the year of sale.
d. $35,000; as they occur.
e. $45,000; in the year of sale
A
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The calendar year-end adjusted trial balance for Blessinger Co. follows:BLESSINGER CO.Adjusted Trial BalanceDecember 31Cash$ 112,000?Accounts receivable27,000?Prepaid rent15,000?Prepaid Insurance9,000?Office supplies3,300?Office equipment38,000?Accumulated depreciation-Equipment?$3,200Building288,000?Accumulated depreciation-Building?42,000Land700,000?Accounts payable?25,800Salaries payable?14,500Interest payable?2,500Long-term note payable?72,000Common stock?200,000Retained earnings?710,000Dividends200,500?Service fees earned?430,800Salaries expense90,000?Insurance expense5,200?Rent expense5,000?Depreciation expense-Equipment800?Depreciation expense-Building7,000?Totals$1,500,800$1,500,800Required:(a) Prepare a classified year-end balance
sheet. (Note: A $9,000 installment on the long-term note payable is due within one year.)(b) Prepare the required closing entries. What will be an ideal response?
What are the four contributing factors that are believed to have led to the decline of interface design?
What will be an ideal response?
All of the following use an advertising revenue model except:
A. Facebook. B. Yahoo. C. Google. D. Walmart.
Juliette intends to approach Kaskade Inc. to fill a vacant position they have in the organization. She conducts a background check to find the merits and limitations of the vacancy. In the context of the behavior of the recruiter, Juliette is checking the ________.
Fill in the blank(s) with the appropriate word(s).