A chandelier permanently attached to a ceiling would be considered a fixture
Indicate whether the statement is true or false
true
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For reporting operating cash flows under the indirect method, a company adds an unrealized holding loss on trading securities to net income to help adjust net income from an accrual basis to a cash basis
Indicate whether the statement is true or false
Which sentence contains a gerund??
A) ?Nathan was downloading the latest antivirus software on his computer B) Her résumé needed updating. C) The account representative is considering a transfer to the Chicago area.
Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. Use only one letter for each element. You do not need to enter amounts.Increase = IDecrease = DNo Effect = NA(Note that "No Effect" means that the event does not affect that element of the financial statements or that the event causes an increase in that element and is offset by a decrease in that same element.) On January 1, Year 1, Flagler Corporation borrowed $20,000 on a line-of-credit from City Bank. AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt. of ?IncomeCash Flows???????
What will be an ideal response?
In its first year of operations, Largo Co. purchased bonds of MacDermott Corp. with a cost of $125,000 and a market value of $127,000. Largo also purchased bonds of Armistead with a cost of $25,000 and a market value of $24,700. These are classified as long-term available-for-sale securities. Prepare the journal entry to record the market value of the investments as of December 31.
What will be an ideal response?