This investment had been purchased in 20X1 at a cost of $ 21 per share. At the end of 20X1, the fair value was $ 26 per share. At the end of 20X2, the fair value was $ 29 per share. The investment was sold in 20X3 at $ 33 per share. There were no dividends in any year. The investment is classified as a FVTPL investment. What would be included in other comprehensive income on the SCI, the holding gain reserve on the SFP (cumulative), and earnings in each of 20X1, 20X2, and 20X3?
Answer to relevant QuestionsThe 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 ...Will, I think these deals will provide an answer to our third- quarter profit shortfall.” Florence Decoste, the CFO of Space Info Corp. (SI), was all smiles as she placed several thick files on Will Blackburn’s desk. ...FYY Limited purchased 500 shares of Humor Inc. for $ 6,000 plus $ 500 in commission. The shares had a fair value of $ 19,000 at the end of 20X1, $ 25,000 at the end of 20X2, and $ 40,000 at the end of 20X3. In 20X4, the ...New Company purchased $ 600,000 of Old Corporation 5.5% bonds, classified as an AC investment. The bonds pay semi- annual interest each 30 June and 31 December. The market interest rate was 5% on the date of purchase. The ...Foreign Currency: On 14 June 20X9, Friedland Limited purchased 20,000 shares of Gerstan Limited for US$ 6.20 per share, plus US$ 1,700 in commis-sions and fees. The shares were purchased from a broker on account, with later ...
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