UGBA 120AB Study Guide - Final Guide: Deferred Income, Finance Lease, Situation Two

• School: Berkeley
• Department: Business Administration, Undergraduate
• Course: UGBA 120AB
• Professor: Stanton

Document Summary

Requirement 1)-- error made before books are adjusted or closed in 2018. The journal entry that should have been made by the company instead: Gain on sale of investments (,000 - ,000) Investment revenue (. 4 million x 0. 06 x 2/12) Available for sale securities cost fair value accumulated unrealized gain (loss) American instruments bonds ,000 ,000 (,000) Balance needed on 12/23/2018 (. 7 mil- . 6 mil) Interest receivable--holistic entertainment ( mil x0. 1x 2/12) ,000. Balance needed on 12/31/2018 ([2,000,000 x . 50] - mil) Balance needed on 12/31/2018 ([4,000,000 x . 50] - mil) Balance needed on 1/7/2019 ( mil - mil) Chapter 13 hw due 6/7/19: e13-6, e13-7, e13-09, e13-20. Sales tax is a current liability because it"s payable in january. Part of the liability for gift certificates is current and part of it is noncurrent. Noncurrent liability as of dec. 31 ( x 0. 2)