During 2013, Fischer/Black Company purchased equity securities classified as available-for-sale securities. On May 22, 2014, the company
Question:
a. What was the acquisition cost of these securities in 2013?
b. What was the market price of these securities at the end of 2013?
c. What is the total amount of securities gain or loss that Fischer/Black reports on the income statement for2014?
Transcribed Image Text:
Cash . . Realized Loss (included in net income) 16,000 5,000 Unrealized Holding Loss (Other Comprehensive Income) .. Marketable Securities . . . 3,000 18,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
a Acquisition Cost Marketable Securities Unrealized Holding Lo...View the full answer
Answered By
Hassan Imtiaz
The following are details of my Professional Experience. Responsibilities Eight years of demanding teaching experience in the field of finance and business studies at Master’s Level. Completion of the given tasks within given time with quality and efficiency. Marketing professional with practical experience in and solid understanding of a diverse range of management applications, including market analysis, sales and marketing, team building and quality assurance. I have excellent skills to approach deal and sustain corporate clients / customers by demonstrating not only extraordinary communication and interpersonal skills but also high caliber presentation, negotiation and closing skills. Manage and follow up the day-to-day activities. Manage and co-ordinate the inventories. Fulfillment of all the tasks assigned.
The following are details of my Areas of Effectiveness. Finance 1. Corporate Finance 2. Advanced Corporate Finance 3. Management of Financial Institutions 4. International Financial Management 5. Investments 6. Fixed Income 7. Real Estate Investment 8. Entrepreneurial Finance 9. Derivatives 10. Alternative Investments 11. Portfolio Management 12. Financial Statement Analysis And Reporting (US GAAP & IFRS) 13. International Financial Markets 14. Public Finance 15. Personal finance 16. Real estate 17. Financial Planning Quantitative Analysis 1. Time Value Of Money 2. Statistics 3. Probability Distribution 4. Business Statistics 5. Statistical Theory and Methods Economics 1. Principles of Economics 2. Economic Theory 3. Microeconomic Principles 4. Macroeconomic Principles 5. International Monetary Economics 6. Money and Banking 7. Financial Economics 8. Population Economics 9. Behavioral Economics International Business 1. Ethics 2. Business Ethics 3. An introduction to business studies 4. Organization & Management 5. Legal Environment of Business 6. Information Systems in Organizations 7. Operations Management 8. Global Business Policies 9. Industrial Organization 10. Business Strategy 11. Information Management and Technology 12. Company Structure and Organizational Management Accounting & Auditing 1. Financial Accounting 2. Managerial Accounting 3. Accounting for strategy implementation 4. Financial accounting 5. Introduction to bookkeeping and accounting Marketing 1. Marketing Management 2. Professional Development Strategies 3. Business Communications 4. Business planning 5. Commerce & Technology Human resource management 1. General Management 2. Conflict management 3. Leadership 4. Organizational Leadership 5. Supply Chain Management 6. Law 7. Corporate Strategy Creative Writing 1. Analytical Reading & Writing Other Expertise 1. Risk Management 2. Entrepreneurship 3. Management science 4. Organizational behavior 5. Project management 6. Financial Analysis, Research & Companies Valuation 7. And any kind of Excel Queries
4.80+
150+ Reviews
230+ Question Solved
Related Book For
Financial Accounting An Introduction to Concepts, Methods and Uses
ISBN: 978-1133591023
14th edition
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
Question Posted:
Students also viewed these Accounting questions
-
OBX Mufflers accepted a five-month, 7.5% interest, $2,400 note from ABD Motors on June 1, 2008. The entire balance is payable at the notes maturity. What will be the total payment on October 31, 2008?
-
Consider a Markov chain (Xn)nzo with state space S = P a =(15 b a 1-b {0, 1} and transition matrix where 0 < a < 1,0 < b < 1, and define a new stochastic process (Zn)n>1 by Zn (Xn-1, Xn) for n 1....
-
When are investments in debt and equity securities classified as fair value through profit or loss?
-
Identify and summarize the most important models and concepts of employee motivation.
-
What is the difference between (a) A monoprotic acid and a diprotic acid (b) A weak acid and a strong acid (c) An acid and a base?
-
Music-Is-Us, Inc., is a supplier of musical instruments for professional and amateur musicians. The companys accountants make adjusting entries monthly, and they make all closing entries annually....
-
Describe surrogacy and the legal and ethical issues that can arise.
-
Logan Company received from Furniture.com an invoice dated September 29. Terms were 1/10 EOM. List price on the invoice was $8,000 (freight not included). Logan receives a 8/7 chain discount. Freight...
-
Analysis of short selling strategy and its role played in Tesla short squeeze Discussion of why short squeeze is not going to happen to Tesla in 2021?
-
AB & Co. manufactures two types of pens P & Q. The cost data for the year ended 30th September 1990, is as follows: It is further ascertained that: (a) Direct materials in type P cost twice...
-
Recognizing a derivative classified as a fair value hedge of a firm commitment as an asset but not recognizing the commitment that the derivative is hedging as a liability is inconsistent. Do you...
-
On December 12, 2013, Canning purchased 2,000 shares of Werther. By December 31, the market price of these shares had dropped by $1,000. On March 2, 2014, Canning sold the 2,000 shares for $18,000...
-
A steel tank contains 14 lbm of propane (liquid vapor) at 70 F with a volume of 0.25 ft3. The tank is now slowly heated. Will the liquid level inside eventually rise to the top or...
-
14) What is the formula for centripetal force? a) Fc = mg b) Fc = mg c) Fc = Gm1m2/r d) There isn't one. Centripetal force is whatever force is causing a net acceleration to the center of the circle.
-
When a satellite is launched, its orbital radius is usually determined far in advance because the amount of energy required to change its orbit is large. How much work, W, would a rocket thruster on...
-
Consider the circuit shown in the figure below, where R = 8.000h, R2 = 6.000h, ye = 7.00V. (i) (a) Find the voltage(and V) a travlt iss R. V (b) Find the current(inA) en R. A
-
Find the optical power, focal lengths, focal lengths, position of the main planes of the lens with the following design parameters: Option 12 f1, MM 15 f2, MM 245 d, MM 5 brand TK14 glass What is...
-
An electron is part of a quantum system. Assume that there are successive state transitions of the electron, such that during the first transition a photon of frequency f is emitted which is followed...
-
Is it more important to reduce false positive or false negative errors in lie detection? What are the consequences of each type of error?
-
Research corporate acquisitions using Web resources and then answer the following questions: Why do firms purchase other corporations? Do firms pay too much for the acquired corporation? Why do so...
-
In simple terms, what does the interest rate parity theory mean?
-
Distinguish between a cost and an expense.
-
A firm generated net income for the current year, but cash flow from operations was negative, how can this happen?
-
Suggest reasons why the total assets and total liabilities of a defined benefit pension plan do not appear, but their net amount does appear, on the employers balance sheet.
-
LaToya Limmons is the manager of the Human Resources (HR) department and Javier Jartin is the manager of the sales department for a production company headquartered in the United States but also has...
-
The beam AD is fixed to a rigid wall at A and is supported by props at B and C as shown in figure 1. In sections AB and BC, the flexural rigidity is EI, but in section CD the flexural rigidity is...
-
What is the meaning of 'framing' and how does it impact the way we negotiate? (Your own opinion)
Study smarter with the SolutionInn App