12/31, a bond (AFS) has an amortized cost/FV of $800,000/ $825,000. Its FV adj. account had...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
12/31, a bond (AFS) has an amortized cost/FV of $800,000/ $825,000. Its FV adj. account had a debit bal. of $20,000 on 1/1. What is the FV adjust. related amount on the IS? 12/31, a bond (AFS) has an amortized cost/FV of $800,000/ $825,000. Its FV adj. account had a debit bal. of $20,000 on 1/1. What is the FV adjust. related amount on the IS?
Expert Answer:
Answer rating: 100% (QA)
The FV adjust related amount on the income statement IS is the amount of unrealized gain or loss on ... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The following table contains the activities for planning a wedding and the activity time estimates. However, the precedence relationships between activities are not included. Using your best...
-
The following figures have been extracted from the accounting records of Lavalamp on 30 September 20X3: (i) Lavalamp has spent $6 million (included in the cost of sales) during the year developing...
-
A cost function is a mathematical expression of how cost drivers affect a particular cost. However, an intuitive understanding of cost functions is just as important as being able to write the...
-
A mass sitting on a horizontal, frictionless surface is attached to one end of a spring; the other end is fixed to a wall. 3.0J of work is required to compress the spring by 0.12 m. If the mass is...
-
A spacecraft of mass 10,000kg is parked in a circular orbit 200km above Earths surface. What is the minimum energy required (neglect the fuel mass burned) to place the satellite in a synchronous...
-
Implement the set of relational tables shown in Table 4-15 in a relational DBMS package to which you have access. Write queries to answer the following questions. Note: For some of these questions...
-
Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2011, the following transactions related to receivables occurred: Feb. 28 Sold...
-
Check my work 2 10 points eBook Hint References Dani Corporation has 7 million shares of common stock outstanding. The current share price is $73, and the book value per share is $8. The company also...
-
The figure below shows an initially stationary block of mass m on a floor. A force of magnitude F = 0.550mg is then applied at upward angle ? = 24. (a) What is the magnitude of the acceleration of...
-
Analyzing prospective costs for land, buildings, and equipment is a capital investment analysis that determines whether the organizations should make those investments. Capital investment decisions...
-
Businesses have different strategies for when a country is in a recession or an upswing. Do some research within the company or in general and evaluate what your company would do when the business...
-
Karen, Tara and Chelsea buy ice cream and paperback novels to enjoy on hot summer days. Ice cream is $5 a gallon and paperback novels are $8 each. Karen has a budget of $80, Tara has a budget of $60,...
-
Laban and Jacob are sheep farmers in a differentiated goods market. The market demand for Laban's sheep wool is y = 80 - p1 + p2 while the market demand for Jacob's sheep wool is y2 = 40 - P2+ P....
-
Assume that the real rate of interest is 2.82 percent and the anticipated percentage change in price levels over the life of the loan contract is 9.57 percent. What is the nominal interest rate for...
-
Better Drinks Company sells insulated plastic tumblers with a unit contribution margin of $12 and a contribution margin ratio of 60%. During the past month, the company sold 4,500 units and total...
-
Examine below program fragment and answer the following questions. for (i=0; i <4; i++) if (pid else = pid = fork(); == 0) sleep(10); execlp("ls", "ls", NULL); pid waitpid(-1, NULL, 0); if (pid > 0)...
-
The following information is for Montreal Gloves Inc. for the year 2020: Manufacturing costs Number of gloves manufactured Beginning inventory $ 3,016,700 311,000 pairs 0 pairs Sales in 2020 were...
-
Assume the same information as for Problem SA-1. Instead of using the equity method, Schinzer uses the fair value option to record the investment in Fowler. The fair value of the investment in Fowler...
-
The trial balances of Campton Corporation and Dorn Corporation as of December 31, 2011, are as shown below. On January 1, 2011, Campton purchases 90% of the outstanding stock of Dorn Corporation for...
-
Refer to the preceding facts for Penskes acquisition of Stock common stock. Penske accounts for its investment in Stock using the simple equity method, including income tax effects. During 2013,...
-
A column arrangement similar to Figure \(15-2\) is used for organic liquids. A large reservoir of water is under the column. The water is stirred and solute concentration in the water is constant....
-
For the same system as in Problem 15.D1, the high concentration \(\mathrm{C}_{\mathrm{A}, 0}=1.2 \mathrm{~kg} / \mathrm{m}^{3}\) and \(\mathrm{C}_{\mathrm{A}, \mathrm{L}}=0.9701 \mathrm{~kg} /...
-
What is the Fickian diffusivity of chlorobenzene in liquid bromobenzene at \(300 \mathrm{~K}\) when the mole fraction of chlorobenzene is 0.0332 ? Assume that the diffusivity follows an Arrhenius...
Study smarter with the SolutionInn App