Chapter 12 [Investments] Excel Handout Problem
Castleman Holdings, Inc. made the following investment related transactions during the fourth quarter of 2024 and first month of 2025:
2024_()
10/1 Purchased 3,000 shares of Chance Co. stock for
$25
per share. Chance Co. has 5 million shares of common stock issued and outstanding.
10/1 Purchased an Investment in Evers Co. Bonds at face value for
$15,000
. This investment is classified as an AFS security. The bonds have a stated interest rate of
5%
and pay interest on
(3)/(31)
Chapter 12 [Investments] Excel Handout Problem
Castleman Holdings, Inc. made the following investment related transactions during the fourth quarter of 2024 and first month of 2025:
2024_()
10/1 Purchased 3,000 shares of Chance Co. stock for
$25
per share. Chance Co. has 5 million shares of common stock issued and outstanding.
10/1 Purchased an Investment in Evers Co. Bonds at face value for
$15,000
. This investment is classified as an AFS security. The bonds have a stated interest rate of
5%
and pay interest on
(3)/(31)
ACCT 411 Intermediate Accounting II
Dr, Baglia
Chapter 16 Handout Problem. Net Operating Losses [NOL]
Spring 2025
Green Compary incurred a
$200,000
net operating loss in 2024, their very first year in business. The company believes it will generate positive income in the future and the benefit of the net operating loss [NOL] wll be realized. The tax rate is
21%
. The company recorded the following entry at 12/31/2024:
\table[[Deferred Tax Asset,],[Income Tax Benefit- NOL,
$42,000