This file of CIS 105 Week 7 Discussion Question 2 comprises: Post your response to the following: What is the importance of an operating system (OS)? What reasons would a computer user have to change from one OS to another? What do you like and dislike about the OS on your computer at home or at work? Explain why.
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Exercise 15-6 Accounting for trading securities L.O. P1 Forex Co. purchases various investments in trading securities at a cost of $59,000 on December 27, 2011. (This is its first and only purchase of such securities.) At December 31, 2011, these securities had a fair value of $70,000. 1. Prepare the December 31, 2011, year-end adjusting entry for the trading securities' portfolio. (Omit the "$" sign in your response.) DateGeneral JournalDebitCredit Dec. 31, 2011 2. Prepare the January 3, 2012, entry when Forex sells a portion of its trading securities (that had originally cost $29,500) for $32,250. (Omit the "$" sign in your response.) DateGeneral JournalDebitCredit Jan. 3, 2012 Exercise 15-7 Adjusting available-for-sale securities to fair value L.O. P3 On December 31, 2011, Rollo Company held the following short-term investments in its portfolio of available-for-sale securities. Rollo had no short-term investments in its prior accounting periods. CostFair Value Vicks Corporation bonds payable $ 63,100 $ 58,000 Pace Corporation notes payable 57,200 49,400 Lake Lugano Company common stock 88,100 84,600 Prepare the December 31, 2011, adjusting entry to report these investments at fair value. (Omit the "$" sign in your response.) DateGeneral JournalDebitCredit Dec. 31 Exercise 15-13 Securities transactions; equity method L.O. P4 Listed below are a few events and transactions of Kash Company. 2011 Jan.2 Purchased 80,000 shares of Bushtex Co. common stock for $544,000 cash plus a broker's fee of $4,850 cash. Bushtex has 177,778 shares of common stock outstanding and its policies will be significantly influenced by Kash. Sept.1 Bushtex declared and paid a cash dividend of $2.80 per share. Dec.31 Bushtex announced that net income for the year is $1,233,779. 2012 June1 Bushtex declared and paid a cash dividend of $3.05 per share. Dec.31 Bushtex announced that net income for the year is $1,383,113. Dec.31 Kash sold 16,000 shares of Bushtex for $361,382 cash. Prepare journal entries to record the above transactions and events of Kash Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) DateGeneral JournalDebit Credit Jan. 2, 2011 Sept. 1, 2011 Dec. 31, 2011 June 1, 2012 Dec. 31, 2012 Dec. 31, 2012 Problem 15-1A Recording transactions and fair value adjustments for trading securities L.O. P1 [The following information applies to the questions displayed below.] Ryder Company, which began operations in 2011, invests its idle cash in trading securities. The following transactions are from its short-term investments in its trading securities. 2011 Jan.20 Purchased 900 shares of Ford Motor Co. at $27 per share plus a $130 commission. Feb.9 Purchased 2,700 shares of Lucent at $30 per share plus a $195 commission. Oct.12 Purchased 800 shares of Z-Seven at $8.10 per share plus a $100 commission. 2012 Apr.15 Sold 900 shares of Ford Motor Co. at $30 per share less a $290 commission. July5 Sold 800 shares of Z-Seven at $10.50 per share less a $95 commission. July22 Purchased 1,800 shares o
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