Raceone Fields, Inc., securities were sold in 20X7. The fair value on 12/31/20X6 was $14 per...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Raceone Fields, Inc., securities were sold in 20X7. The fair value on 12/31/20X6 was $14 per share. In 20X6, $395 was recorded on the books as a realized holding gain to OCI. In 20X7, $711 gain was realized when the securities were sold.E Choose an option below: [Original Text] a realized holding gain to OCI. In 20X7, $711 gain was realized when the securities were sold. an unrealized holding gain to earnings. In 20X7, $316 gain was realized when the securities were sold. an unrealized holding gain to OCI. In 20X7, $711 gain was realized when the securities were sold. a realized holding gain to earnings. In 20X7, $316 gain was realized when the securities were sold." an unrealized holding gain to earnings. In 20X7, $237 gain was realized when the securities were sold. Raceone Fields, Inc., securities were sold in 20X7. The fair value on 12/31/20X6 was $14 per share. In 20X6, $395 was recorded on the books as a realized holding gain to OCI. In 20X7, $711 gain was realized when the securities were sold.E Choose an option below: [Original Text] a realized holding gain to OCI. In 20X7, $711 gain was realized when the securities were sold. an unrealized holding gain to earnings. In 20X7, $316 gain was realized when the securities were sold. an unrealized holding gain to OCI. In 20X7, $711 gain was realized when the securities were sold. a realized holding gain to earnings. In 20X7, $316 gain was realized when the securities were sold." an unrealized holding gain to earnings. In 20X7, $237 gain was realized when the securities were sold.
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below The most correct answer is an unrealize... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
Posted Date:
Students also viewed these accounting questions
-
PROBLEM 1. Compute the value of the unknown variables (those indicated with the letters A-J). Write your answers on a separate sheet of paper. 2 points each. Lending A B Insitutions Amounts to...
-
Simplify the following union and/or intersection. (-13, 9] U [5, c0)
-
The Make-A-Wish Foundation is a privately funded VHWO that grants wishes to children with life-threatening illnesses. Since 1980, it has reached over 165,000 children worldwide through a network of...
-
A buyer's guide is an example of OA) a Life Insurance Illustration Questionnaire O B) a Replacement Questionnaire OC) a required disclosure document OD) a Variable Life Insurance Illustration...
-
Mordialloc Optical Pty Ltd declared a dividend of $2.15 yesterday. The company is expected to grow at a steady rate of 5 per cent for the next several years. If shares such as these require a rate of...
-
This diagram shows a current-carrying wire frame placed between a pair of Magnadur magnets on a yoke. A pointer is attached to the wire. A current of 8.5 A in the wire causes the pointer to move...
-
Find a sample settlement agreement. Of those covered in this chapter, what type of settlement agreement did you find?
-
Refer to the Auditing in Practice feature, "Professional Skepticism." a. What is professional skepticism? b. Why is professional skepticism necessary to detecting fraud? c. What are the key behaviors...
-
A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next...
-
Hastings College pooled the individual investments of three of its funds on December 31, 2024. The recorded value and the fair market value of the investments on December 31, 2024, are presented...
-
LearnCo manufactures and sells one product, an abacus for classroom use, with two models, the Basic model and the Deluxe model. The company began operations on January 1, 2015, and is planning for...
-
Any manufacturing supply chain with (say) one stage of value addition or processing can be located close to the source of raw materials or close to the demand centres, or something in between. For...
-
Two masses, each weighing 3.50 kg and each with a charge of +9.50 C, are placed 9.10 m away from each other. What would be the magnitude of the electric force on one mass?
-
From an ethics point describe how you intend to staff a skilled nursing facility dealing with hiring, retention and firing post covid. What recruitment and retention strategies are in place. Can the...
-
If your pace on a treadmill is 65 meters per minute (m/min), howmany minutes will it take for you to walk a distance of 7500 feet?(1 ft = 12 inches, 1 inch = 2.54cm) Please show me how to set this up...
-
Write a function getDifference that does the following - a: Write a function get Values that takes two values from the user, r and c, and construct a two dimensional list using those values. The...
-
In 1989, Coors Brewing was on a roll. They had just completed the national rollouts of both Coors and Coors Light beers across the US and had grown to be the third largest brewer in the country,...
-
Which of the following gives the range of y = 4 - 2 -x ? (A) (- , ) (B) (- , 4) (C) [- 4, ) (D) (- , 4] (E) All reals
-
Below are the summarized financial statements of the Missouri State Lottery for the year ended June 30, 2014. Statement of Revenues, Expenses and Changes in Net Position For Year Ended June 30, 2014...
-
Panda Corporation paid $1,000,000 in cash for all of Sim Corporation's assets and liabilities in a statutory merger. The following table shows three possible cases for the merger: Required In each of...
-
The American Hereditary Disease Associations private organization supporting research and education related to hereditary diseases, holds the following long-term investments at December 31, 2012:...
-
State the main audit objectives for (1) sales transactions and (2) debtors balances.
-
What are the major files and printed outputs of computerised processing for sales transactions?
-
What is the sequence of steps normally associated with processing of credit sales? For each step, identify one control.
Study smarter with the SolutionInn App