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A net unrealized loss on a company’s long-term portfolio of available for sale securities should be...

A net unrealized loss on a company’s long-term portfolio of available for sale securities should be reflected in the current financial statements as?

A company using the group depreciation method for its delivery trucks retired one of its delivery trucks due to damage before the average service life of the group was reached. An insurance recovery was received. The net book value of these group asset accounts would be decreased by the?

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Answer #1

Net Book Value = Total Book Value of group Asset - Insurance Received for the retired Asset

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