During the first year of operations,Makala Company purchased two available-for-sale investments as follows: 
Assume that as of December 31,Oceanna Company's stock had a market value of $49 per share and Rockledge,Inc.'s stock had a market value of $20 per share.Makala had 10,000 shares of no par stock outstanding that was issued for $150,000.For the year ending December 31,Makala had a net income of $105,000.No dividends were paid. 
Definitions:
Bond
A long-term debt security that is secured by collateral.
Estate Value
The total net worth of an individual's assets at the time of their death, after deducting debts and liabilities.
Joint Tenants
Co-owners of property who have equal shares and rights in the property, with a right of survivorship.
Right Of Survivorship
A legal concept where property automatically transfers to the surviving co-owner(s) upon the death of another co-owner.
Q23: When the cost method is used to
Q38: A balance sheet that displays only component
Q57: If Dakota Company issues 1,500 shares of
Q63: On January 1,$2,000,000,five-year,10% bonds,were issued for $1,960,000.Interest
Q71: On October 1,Marcus Corporation purchased $20,000 of
Q117: The following information was taken from the
Q138: When a corporation issues bonds,it executes a
Q141: Using the following table,what is the present
Q186: An acceleration in the collection of receivables
Q198: Earnings per share amounts are only required