Business, 24.02.2020 19:40 lakinbacon4

At December 31, Hull Corp. had the following debt securities that were purchased during the year, its first year of operations:

In Current Assets:
Security A:
Cost 90,000; Fair Value 60,000; Unrealized gain (loss) (30,000).
Security B:
Cost 15,000; Fair Value 20,000; Unrealized gain (loss) 5,000.
Totals:
Cost 105,000; Fair Value 80,000; Unrealized gain (loss) (25,000).

In Noncurrent Assets:
Security Y:
Cost 70,000; Fair Value 80,000; Unrealized gain (loss) 10,000.
Security Z:
Cost 90,000; Fair Value 45,000; Unrealized gain (loss) (45,000).
Totals:
Cost 160,000; Fair Value 125,000; Unrealized gain (loss) (35,000).

All changes in fair value are considered temporary. Security A is a trading security, and the other securities are available-for-sale securities. What amounts should be charged to earnings and other comprehensive income at December 31?
Earnings; OCI
a. $(25,000); $0
b. $(60,000); $0
c. $(25,000); $(30,000)
d. $(30,000); $(30,000)

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 05:50

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

Answers: 2

Answer

Business, 22.06.2019 16:40

Determine the hrm’s role in the performance management process and explain how to ensure the process aligns with the organization’s strategic plan.

Answers: 1

Answer

Business, 22.06.2019 20:30

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november.

Answers: 3

Answer

Business, 22.06.2019 21:00

At present, the united states has an embargo against north korea because a. the two countries have extremely poor political relations. b. north korea will not adopt a capitalist government. c. north korean products are too difficult to use. d. north korea has an embargo on american products. e. products from north korea are in higher demand than american-made products.

Answers: 2

Answer

You know the right answer?

At December 31, Hull Corp. had the following debt securities that were purchased during the year, it...

Questions