Easton Company prepares annual adjusting entries only . During the third quarter of Fiscal Year 2018 , Easton

Question 5 ( 7 points )
Easton Company prepares annual adjusting entries only . During the third quarter of Fiscal Year 2018 , Easton
Company acquired the following trading securities :"
Date
Company .*
# of
Price per
Shares
Share
8 / 15 X Company
1 , 500
$44
9/ 25 Y Company
1 , 250
30
9 /30 Z Company
1 , 000
30
On November 10th , Easton Company sold the Y Company stock for $31 per share . On December 15 th , Z
Company paid dividends of $0. 12 per share . The following were the year-end market values :"
Company.
FMV per
Share
X Company
$43
Y Company
15
Z Company
29
What the total dollar values that Towson Company should record for the Unrealized Gain or ( Loss ) on
Trading Securities for 2018 ? Enter a Loss as a negative number ."
Your Answer :"
Answer
Question 6 ( 7 points )
Arundel Company uses aging to estimate uncollectibles . At the end of the fiscal year , December 31 , 2018 ,
Accounts Receivable has a balance that consists of :"
Dollar Value*
Age of Account
Estimated
Collectible
$260, 000
< 30 days old
98. 0 %
70 , 000
30 to 60 days old
92.5%
25 , 000
61 to 120 days old
79.5%

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