The 31 December 20X3 statement of financial position shows FVTOCI investments at $ 456,800, and accumulated other comprehensive income at $ 169,000. The investments were purchased in 20X3. Interpret these two values. At what amount were the investments originally purchased?
Answer to relevant QuestionsAssume that Company R acquired, as a long- term investment, 30% of the out-standing voting common shares of Company S at a cash cost of $ 100,000. At the date of acquisition, Company S reported net assets and total ...Quinn Inc. (QI) was formed in March 20X8 when Devon Goodman, Scott Adams, and Chase Beson pooled their resources and talents to take advantage of a booming economy in western Canada. The company selected 28 February as the ...Windsor Company purchased 30% of the shares of Brampton for $ 565,000 cash. Windsor will use the equity method. On this date, Brampton has $ 2,000,000 of assets, $ 1,600,000 of liabilities, and $ 400,000 of equity. Book ...Franco Ltd. purchased $ 400,000 of Gentron Company 5% bonds. The bonds pay semi- annual interest each 30 June and 31 December. The market interest rate was 6% on the date of purchase. The bonds mature on 31 December 20X10. ...Micah Corporation purchased an $ 850,500 investment in the common shares of Fortune Corporation on 15 July 20X5. The investment is a FVTPL investment. Fortune is a private company and few shares are bought and sold. Micah ...
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