Question
In: Accounting
Investments in available for sale marketable securities: 1) Only include investments in the capital stock of...
Investments in available for sale marketable securities:
1) Only include investments in the capital stock of publicly traded corporations
2) May be reported in the balance sheet at market values lower than cost, but never at values in excess of original cost
3) Are carried in the accounting records at current market values, and therefore do not generate gains or losses when sold at market values.
4) Are adjusted to current market value at the end of each accounting period.
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1)Available-for-sale securities are reported on the balance sheet A) In the Investments classification at their historic...
1)Available-for-sale securities are reported on the balance
sheet
A) In the Investments classification at their historic cost
B) In the Current Assets classification at their market
value
C) In the Investments classification at their market value
D) In the Stockholders’ Equity section at their market
value.
2) Using the indirect method (statement of cash flows), a
decrease in inventory would:
A) be subtracted from net income
B) be added to net income
C) have no adjustment made to net income...
Missing Statement Items, Available-for-Sale Securities Oceanic Airways makes investments in available-for-sale securities. Selected income statement items...
Missing Statement Items, Available-for-Sale Securities
Oceanic Airways makes investments in available-for-sale
securities. Selected income statement items for the years ended
December 31, 2016 and 2017, plus selected items from comparative
balance sheets, are shown in the income statement and balance sheet
below: (There were no dividends.)
Determine the missing items. If required, use the minus sign to
indicate a net or operating loss, unrealized losses, or a credit
balance in the valuation allowance account.
Oceanic
Airways
Selected
Income Statement Items...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement...
Missing Statement Items, Available-for-Sale Securities
Highland Industries Inc. makes investments in available-for-sale
securities. Selected income statement items for the years ended
December 31, Year 2 and Year 3, plus selected items from
comparative balance sheets, are as follows:
There were no dividends.
Determine the missing items. If required, use the minus sign to
indicate a net or operating loss, unrealized losses, or a credit
balance in the valuation allowance account.
Highland Industries Inc.
Selected Income Statement Items
For the Years...
Missing Statement Items, Available-for-Sale Securities Highland Industries Inc. makes investments in available-for-sale securities. Selected income statement...
Missing Statement Items, Available-for-Sale Securities
Highland Industries Inc. makes investments in available-for-sale
securities. Selected income statement items for the years ended
December 31, Year 2 and Year 3, plus selected items from
comparative balance sheets, are as follows:
There were no dividends.
Determine the missing items. If required, use the minus sign to
indicate a net or operating loss, unrealized losses, or a credit
balance in the valuation allowance account.
Highland Industries Inc.
Selected Income Statement Items
For the Years...
Cited here are four unrelated cases involving marketable equity securities: 1. A noncurrent portfolio of available-for-sale...
Cited here are four unrelated cases involving marketable equity
securities:
1. A noncurrent portfolio of available-for-sale equity
securities with an aggregate market value in excess of cost;
includes one particular security whose market value has declined to
less than one-half of the original cost.
2. The balance sheet of a company does not classify assets and
liabilities as current and noncurrent. The port- folio of
available-for-sale equity securities includes securities normally
considered current that have a net cost in excess...
Cited here are four unrelated cases involving marketable equity securities: 1. A noncurrent portfolio of available-for-sale...
Cited here are four unrelated cases involving marketable equity
securities:
1. A noncurrent portfolio of available-for-sale equity
securities with an aggregate market value in excess of cost;
includes one particular security whose market value has declined to
less than one-half of the original cost.
2. The balance sheet of a company does not classify assets and
liabilities as current and noncurrent. The portfolio of
available-for-sale equity securities includes securities normally
considered current that have a net cost in excess of...
Fair Value Journal Entries, Available-for-Sale Investments Hurricane Inc. purchased a portfolio of available-for-sale securities in Year...
Fair Value Journal Entries, Available-for-Sale Investments
Hurricane Inc. purchased a portfolio of available-for-sale
securities in Year 1, its first year of operations. The cost and
fair value of this portfolio on December 31, Year 1, was as
follows:
Name
Number of Shares
Total Cost
Total Fair Value
Tornado Inc.
1,300
$17,420
$19,340
Tsunami Corp.
700
22,960
25,030
Typhoon Corp.
250
7,500
7,130
Total
$47,880
$51,500
On June 12, Year 2, Hurricane purchased 550 shares of Rogue Wave
Inc. at $30...
1.If a company purchases its long term investments in available for sale debt securities this period...
1.If a company purchases its long term investments in available
for sale debt securities this period and their fair value is below
cost at the balance sheet date, what entry is required to recognize
the unrealized loss?
2. On a balance sheet, what valuation must be reported for debt
securities classified as available for sale?
3. Under what circumstances are long-term investments in debt
securities reported at cost and adjusted for amortization of any
difference between cost and maturity value?...
On January 1, Glide Company had the following portfolio of investments in available-for-sale debt securities: Original ...
On January 1, Glide Company had the following portfolio of
investments in available-for-sale debt securities:
Original
Fair
Value
Holding Gain
or
Sold prior to
Securities:
Cost
Jan
1st
Loss on Jan
1st
Dec 31st ?
ACE
$20,000
$24,000
$4,000
YES
CHA
40,000
-
-
-
-
NO
During the year the following transactions occurred:
May 1 à Purchased CHA debt securities at par value for
$40,000
July 1 à Sold all the ACE securities for...
At the beginning of 2016, Ace Company had the following portfolio of investments in available-for-sale securities...
At the beginning of 2016, Ace Company had the following
portfolio of investments in available-for-sale securities (common
stock):
Security
Cost
12/31/15 Fair Value
A
$19,000
$22,500
B
32,000
30,000
Totals
$51,000
$52,500
During 2016, the following transactions occurred:
May
3
Purchased C securities (common
stock) for $14,500.
July
16
Sold all of the A securities for
$22,500.
Dec.
31
Received dividends of $650 on the B
and C securities, for which the following information was
available:
Security
12/31/16 Fair Value...
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