Nano Berhad recorded total investments of RM12 million in its book. Out of total investments of RM12million,

Fantastic news! We've Found the answer you've been seeking!

Question:

Nano Berhad recorded total investments of RM12 million in its book. Out of total investments of RM12million, RM5 million was classified as investment held-fortrading.

Explain how to classify the investment of Nano Berhad as held for trading.

Related Book For answer-question

Introduction to Governmental and Not for Profit Accounting

ISBN: 978-0132776011

7th edition

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

See More Books

Posted Date: Jun 04, 2020 06:37 AM

See More Questions

Explain why trading investments are always reported as current assets and yet investments to earn interest may be reported as current or non-current assets.
Explain why a decrease in cash is classified as a cash inflow (source) and why an increase in cash is classified as a cash outflow (use) in preparing the statement of cash flows.
How does a company categorize land held for investment on its balance sheet?
Trade promotions refer to offers made to Group of answer choices channel members non-profit organizations businesses consumers Question 2 Consumer promotions refer to offers made to Group of answer...
a. Establish response categories and codes for the question, "What do you like about this new brand of cereal?" b. Code the following responses using your categories and codes. 1. "$3.99 is a...
Assume for this question that college womens heights are approximately normally distributed with a mean of 64.6 inches and a standard deviation of 2.6 inches. Draw a well-labeled Normal curve for...
What is a double-barreled question?
The Whistle Stop Cafe in Weems, Georgia, is well known for its popular homemade ice cream, made in a small plant in back of the cafe. People drive all the way from Atlanta and Macon to buy the ice...
You are required to add the following methods to the (1 points) Appending a given value to the buffer. class. (2 points) Inserting a given double value to a given position in the buffer. When the...
In April 2018, Dan is audited by the IRS for the year 2016. During the course of the audit, the agent discovers that Dan's deductions for business travel and entertainment are unsubstantiated and a...
A firms 2022 expected net income is $12.5 mil, its current book value is $32 mil, and its equity reinvestment rate is 25%. What is the firms 2022 growth rate? Expected FCFE in 2022? Explain the...
What is the difference between scope creep and feature creep?
Assume a US company performs the ceiling test at the end of the second quarter using end-of-quarter prices, which are $90/bbl. As a consequence of the test, the company books a ceiling write-down of...
What are the eight major activities in the project management life cycle?
What should project managers do to manage changes that occur and/or are requested during a project?
What is the major focus of structured analysis?
What are the driving forces behind the spatial patterns of species distribution and biodiversity within ecosystems, and how do these patterns contribute to our understanding of macroecology?
Presented below are income statements prepared on a LIFO and FIFO basis for Kenseth Company, which started operations on January 1, 2024. The company presently uses the LIFO method of pricing its...
The following budgetary events occurred in Marilyn County during calendar year 2013: 1. The legislature approved the following budget: Estimated Revenues Property taxes......... $ 1,000,000 Sales...
At the end of calendar year 2013, the following balances were found in the ledger of the Old Elias Library Fund. Prepare closing journal entries for these budgetary and financial accounts. Also,...
For a General Fund or a Special Revenue Fund, what does a credit balance in the fund balance account(s) at the end of the year signify? What does a debit balance signify?
Calculate the $\overline{\mathrm{MS}}$ counterterm for the quark-gluon vertex in an arbitrary covariant gauge and obtain the result for $\delta_{1}$ in Eq. (9.2.28).
Draw the diagrams contributing to the $\mathcal{O}\left(g^{2} ight)$ (one-loop) corrections to the tree-level ghostgluon, three-gluon and four-gluon vertices. Write down the loop integrals for the...
Define the BRST transformation of some field $\phi$ as $Q \phi$, where under the BRST transformation $\phi ightarrow \phi+\delta \phi$ with $\delta \phi \equiv \theta Q \phi$. For example,...

Nano Berhad recorded total investments of RM12 million in its book. Out of total investments of RM12million,

Question:

Expert Answer:

Investment held for trading is classified under the category current assets in balance ... View the full answer

Introduction to Governmental and Not for Profit Accounting

Students also viewed these accounting questions