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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.
Deadline: ( ), General Questions - General General Questions
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 of Hunt Corp. at
$30 per share plus a $230 commission. Aug.19 Purchased
1,900 shares of Donna Karan at $12 per share plus a $105
commission. 2013 Feb.27 Purchased 3,900 shares of HCA at
$35 per share plus a $430 commission. Mar.3 Sold 1,800
shares of Hunt at $25 per share less a $125 commission.
June21 Sold 2,700 shares of Lucent at $27.75 per share less a
$37 commission. June30 Purchased 1,300 shares of Black
Decker at $47.50 per share plus a $590 commission. Nov.1
Sold 1,900 shares of Donna Karan at $23.00 per share less a
$124 commission. rev: 12_07_2011 references 1.value: 3.00
points Problem 15-1A Part 1 1. Prepare journal entries to
record these short-term investment activities for the years
shown. (Ignore any year-end adjusting entries.) (Input all
amounts as positive values. Omit the "$" sign in your
response.) DateGeneral JournalDebitCredit Jan. 20, 2011
Feb. 9, 2011 Oct. 12, 2011 Apr. 15, 2012 July 5, 2012 July
22, 2012 Aug. 19, 2012 Feb. 27, 2013 Mar. 3, 2013 June 21,
2013 June 30, 2013 Nov. 1, 2013 rev: 12_07_2011 eBook
Linkreferences 2.value: 3.00 points Problem 15-1A Part 2 2.
On December 31, 2013, prepare the adjusting entry to record
any necessary fair value adjustment for the portfolio of
trading securities when HCA’s share price is $37 and Black
Decker’s share price is $43.5. (Assume the Fair Value
Adjustment—Trading account had an unadjusted balance of
zero.) (Omit the "$" sign in your response.) DateGeneral
JournalDebitCredit Dec. 31, 2013
Be careful about submitting your initial draft. Allow yourself

sufficient revision time. Rather than just proofreading, create
a second draft. Then, proofread this draft and make any
needed changes. This will ensure that no errors have been
overlooked and that the quality of the writing is high....
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