Brooks co. purchases debt investments as trading securities at a cost of $73,000 on december 27. this is its first and only purchase of such securities. at december 31, these securities had a fair value of $79,000. 1. prepare the december 27 entry for the purchase of debt investments. 2. & 3. prepare the december 31 year-end fair value adjusting entry for the trading securities' portfolio and the january 3 entry when brooks sells a portion of its trading securities (costing $36,500) for $38,000 cash.

When an interest-bearing note comes due and is uncollectible, the journal entry includes debiting

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan

After testing its water, a city water department issues a report to the related citizens, noting what chemicals have been identified, their doses, and the estimated risks of exposure at these levels. this report represents a type of