Determine the amount of impairment loss (if any) to record in income under the following three...
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Determine the amount of impairment loss (if any) to record in income under the following three separate scenarios for an AFS debt investment. In all three cases, the company does not intend to sell and does not believe it is more likely than not that it will be requ to sell the investment before recovery of any unrealized loss. Assume that the company has already adjusted the AFS investments to fair value through OCI. Scenario Fair value $ Amortized cost $ Expected credit loss S Impairment loss S 1 252,000 $ 224,000 $ 42.000 $ 2 196,000 $ 224,000 $ 42.000 $ 168,000 224,000 42.000 Determine the amount of impairment loss (if any) to record in income under the following three separate scenarios for an AFS debt investment. In all three cases, the company does not intend to sell and does not believe it is more likely than not that it will be requ to sell the investment before recovery of any unrealized loss. Assume that the company has already adjusted the AFS investments to fair value through OCI. Scenario Fair value $ Amortized cost $ Expected credit loss S Impairment loss S 1 252,000 $ 224,000 $ 42.000 $ 2 196,000 $ 224,000 $ 42.000 $ 168,000 224,000 42.000
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Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
Posted Date:
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