Oceanic Airways makes investments in available-for-sale securities. Selected income statement items for the years ended December 31,
Question:
There were no dividends.
Determine the missing lettereditems.
Transcribed Image Text:
Oceanic Airways Selected Income Statement Items For the Years Ended December 31, 2010 and 2011 2010 2011 Operating income a. g. $ (8,000) (11,000) Gain (loss) from sale of investments $4,000 Net income b. Oceanic Airways Selected Balance Sheet Items December 31, 2009, 2010, and 2011 Dec. 31, 2009 Dec. 31, 2010 Dec. 31, 2011 Assets $ 78,000 $ 68,000 Available-for-sale investments, at cost $95,000 Valuation allowance for available-for- sale investments 5.000 16,000) h. Available-for-sale investments, at fair value i. C. e. Stockholders' Equity Unrealized gain (loss) on available-for- (7,000) j. sale investments d. f. Retained eamings $164,000 $232,000
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a 64000 68000 4000 b 68000 232000 164000 c 83000 78000 5000 d 5000 Same as ...View the full answer
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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