Uttinger Company has the following data at December 31, 2017. The available-for-sale securities are held as a
Question:
The available-for-sale securities are held as a long-term investment.
Instructions
(a) Prepare the adjusting entries to report each class of securities at fair value.
(b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss)accounts.
Transcribed Image Text:
Securities Cost Fair Value Arailabnie forsale$10.0005$126,000 Trading vailable-for-sale 100,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
a Fair Value Adjustment x Trading 126000 120000 600...View the full answer
Answered By
Sultan Ghulam Dastgir
The following are details of my Areas of Effectiveness English Language Proficiency, Organization Behavior , consumer Behavior and Marketing, Communication, Applied Statistics, Research Methods , Cognitive & Affective Processes, Cognitive & Affective Processes, Data Analysis in Research, Human Resources Management ,Research Project,
Social Psychology, Personality Psychology, Introduction to Applied Areas of Psychology,
Behavioral Neurosdence , Historical and Contemporary Issues in Psychology, Measurement in Psychology, experimental Psychology,
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Question Posted:
Students also viewed these Accounting questions
-
Uttinger Company has the following data at December 31, 2014. The available-for-sale securities are held as a long-term investment. Instructions (a) Prepare the adjusting entries to report each class...
-
Uttinger Company has the following data at December 31, 2015. The available-for-sale securities are held as a long-term investment. Instructions (a) Prepare the adjusting entries to report each class...
-
Uttinger Company has the following data at December 31, 2020. The available-for-sale securities are held as a long-term investment. Instructions a. Prepare the adjusting entries to report each class...
-
Scenic Ventures is considering an investment in a start-up firm offering ecotourism excursions in Costa Rica. Scenic Ventures estimates that, if the venture is successful, the ecotourism company will...
-
Inventive Controls Ltd. was incorporated and started business early in January 2012 to manufacture electronic control devices to monitor traffic. Inventive purchased a small manufacturing plant and...
-
X plc manufactures Product X using three different raw materials. The product details are as follows: It is company policy to hold stocks of finished goods at the end of each month equal to 50 per...
-
A silicon substrate \(10 \mathrm{~cm}\) long is exposed to a gas stream containing an arsenic precursor so that a GaAs film can be deposited on the surface. Estimate the mass-transfer coefficient,...
-
Michelle Gutierrez, manager of the Components Division of FX Corporation, is considering a new investment for her division. The division has an investment base of $4,000,000 and operating income of...
-
If I assume the WACC= 9% and a growth rate of 5% after year 1. What would the FCF for Year 1 be? What would the market value of the common stock be? 3. ($ millions) Sales Actual Forecast X 0 Xr1 $...
-
Near the end of 2013, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2013. To prepare a master budget for January,...
-
At December 31, 2017, the trading securities for Storrer, Inc. are as follows. Instructions (a) Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (b) Show the...
-
In January 2017, the management of Kinzie Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions...
-
A toy helicopter is flying in a straight line at a constant speed of 4.5 m/s. If a projectile is launched vertically with an initial speed of v 0 = 28 m/s, what horizontal distance d should the...
-
An off-highway truck weights 70,000 lb empty and 150,000 lb when loaded. The weight distribution empty is 50% front and 50% rear. The weight distribution loaded is 33% front and 67% rear. The truck...
-
The checklist is intended to protect from errors due to attention deficit and memory fallibility, when performing routine actions; it is a list of actions to do or check, in order to maintain a high...
-
Identify and evaluate the actions of an industry/company that faces an ethically conflictual sustainability issue, and suggest improvements or alternative actions that the company/industry should...
-
1. What measures has airline management done to reduce the possibility of further service interruptions both during and after the Covid-19 pandemic? 2. What modifications or adaptations have been...
-
replaces characters at indices indx to indx+num-1 with a copy of subStr #include #include using namespace std; int main() { string passwdStr; int idx; cin >> passwdStr; idx = 0; /* Your code goes...
-
Red Zeppelin Corporation follows a strict residual dividend policy. Its debt-equity ratio is 3. a. If earnings for the year are $140,000, what is the maximum amount of capital spending possible with...
-
(a) Explain why the concentration of dissolved oxygen in freshwater is an important indicator of the quality of the water. (b) How is the solubility of oxygen in water affected by increasing...
-
Air enters a \(15-\mathrm{cm}\)-diameter duct with a velocity of \(120 \mathrm{~m} / \mathrm{s}\). The pressure is \(1 \mathrm{~atm}\) and the temperature is \(100^{\circ} \mathrm{C}\). (a) How much...
-
Amazon.com, Inc.s financial statements are presented in Appendix D. Financial statements of Wal-Mart Stores, Inc. are presented in Appendix E. (Use Wal-Marts January 31, 2012, financial statements...
-
Three years ago, Dana Mann and her brother-in-law Eric Boldt opened Family Department Store. For the first two years, business was good, but the following condensed income results for 2013 were...
-
Jacquie Boynton was just hired as the assistant treasurer of Key West Stores. The company is a specialty chain store with nine retail stores concentrated in one metropolitan area. Among other things,...
-
What are some key traits and qualities that define an effective leader in today's complex and dynamic business environment?
-
How has digital marketing transformed the healthcare industry? What are the key strategies for successful healthcare marketing in 2023? How can healthcare providers ensure compliance with healthcare...
-
If you invest $250 a month for 40 years at 10% interest. How much money will you have.
Study smarter with the SolutionInn App