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When the fair value adjustment trading account for trading debt investments has a debit balance, such balance is added to trading debt investment account to determine the carrying value. Comment if you face any issues |
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UJUUN. 2 IS 15 of 49 (12 complete) If the Fair Value Adjustment - Trading account...
1-If the Fair Value Adjustment minus trading account for trading debt investments has a debit balance,...
1-If the Fair Value Adjustment minus trading account for trading debt investments has a debit balance, it a. Added to the trading debt investment account to determine carrying value b. Considered to be a contra account C. Subtracted from the trading debt investment account to determine carrying value d. Reported in the other income and expenses section of the income statement. 2-when a trading debt security is disposed of, the amount of gain or loss is calculated as the difference...
1-If the Fair Value Adjustment minus Trading account for trading debt investments has a debit balance,...
1-If the Fair Value Adjustment minus Trading account for trading debt investments has a debit balance, it is 2-A preferred stock is an example of a debt security. • True False 3-Equity securities, in which the investor lacks the ability to participate in the decisions of the investee company, are initially accounted for at the lower-of-cost-or-market value. True . False 4- are equity securities in which the investor owns between 20% and 50% of the investee's voting stock. 5-Securities are...
what should the balance in the fair value adjustment - trading account be at the end...
what should the balance in the fair value adjustment - trading
account be at the end of a period?
Question Completion Status: QUESTION 1 If done correctly, what should be the balance in the Fair Value Adjustment - Trading account at the end of the period? The market value of the trading securities. The historical cost of the trading securities. The difference between the historical cost and the market value of the trading securities. The difference between the historical cost...
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium...
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium on Bonds Payable is a credit of $1,200. What is the bond carrying amount? O A. $1,200 OB. $79,200 OC. $76,800 OD. $78,000 Global Commerce Corporation purchased trading debt investments for $114,000 on December 31, 2018. There is a decrease of $5,800 in the fair value of the trading debt investments by the end of the year 2019. Which of the following is the...
Question 1 Trading investments include ob equity securities in which the investor holds less than 20...
Question 1 Trading investments include ob equity securities in which the investor holds less than 20 percent of the voting stock and that the investor plans to sell in the very near future debt and equity securities that the investor expects to hold longer than one year or debt or equity securities that are not readily marketable investments in debt securities that the investor intends to hold until they mature investments in debt and equity securities that are highly liquid...
12:19 PM Sun Feb 9 C16 #2 At December 31, 2020, the trading securities for Sandhill,...
12:19 PM Sun Feb 9 C16 #2 At December 31, 2020, the trading securities for Sandhill, Inc. are as follows. Security Cost Fair Value $16,300 13,800 $17,100 12,800 22,600 $52,500 $49.000 Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and...
Leonard Technologies invests $68,000 to acquire $68,000 face value, 12%, five-year corporate bonds on December 31,...
Leonard Technologies invests $68,000 to acquire $68,000 face value, 12%, five-year corporate bonds on December 31, 2014. The bonds will mature on December 31, 2019. The bonds pay interest semiannually on December 31 and June 30 every year until maturity. Assume Leonard Technologies uses a calendar year. Based on the information provided, which of the following will be included in the journal entry for the transaction on December 31, 2018? O A. a debit to Interest Revenue for $8,160 O...
QS 15-5 Multiyear fair value adjustments to trading securities LO P1 Kitty Company began operations in...
QS 15-5 Multiyear fair value adjustments to trading securities LO P1 Kitty Company began operations in 2016 and maintains short-term investments in trading securities. The year-end cost and fair values for its portfolio of these investments follow. Cost $65 Fair Value $49 Portfolio of Trading Securities December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 Prepare journal entries to record each December 31 year-end fair value adjustment for these above securities. Prepare journal entries to record each...
Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading...
Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading Available-for-sale Cost $121,500 101,100 Fair Value $125,000 93,800 The available-for-sale securities are held as a long-term investment. Your answer is correct. Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit acc entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (1) Fair Value Adjustment-Trading...
2 points Question 1.24 The valuation allowance for trading investments account is found on the o...
2 points Question 1.24 The valuation allowance for trading investments account is found on the o income statement as other revenve (expense) balance sheet as an adjustment to the asset account o statement of retained eamings O balance sheet as an adustment to stockholders' equity 2 points Question 1.25 Trading securities are reported at fair value on the balance sheet and as unrealized gains or losses on the income statement o not reported on the balance sheet reported as unrealized...
1-If the Fair Value Adjustment minus trading account for trading debt investments has a debit balance, it a. Added to the trading debt investment account to determine carrying value b. Considered to be a contra account C. Subtracted from the trading debt investment account to determine carrying value d. Reported in the other income and expenses section of the income statement. 2-when a trading debt security is disposed of, the amount of gain or loss is calculated as the difference...
1-If the Fair Value Adjustment minus Trading account for trading debt investments has a debit balance, it is 2-A preferred stock is an example of a debt security. • True False 3-Equity securities, in which the investor lacks the ability to participate in the decisions of the investee company, are initially accounted for at the lower-of-cost-or-market value. True . False 4- are equity securities in which the investor owns between 20% and 50% of the investee's voting stock. 5-Securities are...
what should the balance in the fair value adjustment - trading
account be at the end of a period?
Question Completion Status: QUESTION 1 If done correctly, what should be the balance in the Fair Value Adjustment - Trading account at the end of the period? The market value of the trading securities. The historical cost of the trading securities. The difference between the historical cost and the market value of the trading securities. The difference between the historical cost...
The balance in the Bonds Payable is a credit of $78,000. The balance in the Premium on Bonds Payable is a credit of $1,200. What is the bond carrying amount? O A. $1,200 OB. $79,200 OC. $76,800 OD. $78,000 Global Commerce Corporation purchased trading debt investments for $114,000 on December 31, 2018. There is a decrease of $5,800 in the fair value of the trading debt investments by the end of the year 2019. Which of the following is the...
Question 1 Trading investments include ob equity securities in which the investor holds less than 20 percent of the voting stock and that the investor plans to sell in the very near future debt and equity securities that the investor expects to hold longer than one year or debt or equity securities that are not readily marketable investments in debt securities that the investor intends to hold until they mature investments in debt and equity securities that are highly liquid...
12:19 PM Sun Feb 9 C16 #2 At December 31, 2020, the trading securities for Sandhill, Inc. are as follows. Security Cost Fair Value $16,300 13,800 $17,100 12,800 22,600 $52,500 $49.000 Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and...
Leonard Technologies invests $68,000 to acquire $68,000 face value, 12%, five-year corporate bonds on December 31, 2014. The bonds will mature on December 31, 2019. The bonds pay interest semiannually on December 31 and June 30 every year until maturity. Assume Leonard Technologies uses a calendar year. Based on the information provided, which of the following will be included in the journal entry for the transaction on December 31, 2018? O A. a debit to Interest Revenue for $8,160 O...
QS 15-5 Multiyear fair value adjustments to trading securities LO P1 Kitty Company began operations in 2016 and maintains short-term investments in trading securities. The year-end cost and fair values for its portfolio of these investments follow. Cost $65 Fair Value $49 Portfolio of Trading Securities December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 Prepare journal entries to record each December 31 year-end fair value adjustment for these above securities. Prepare journal entries to record each...
Exercise 16-12 a-b (Video) Sheridan Company has the following data at December 31, 2020. Securities Trading Available-for-sale Cost $121,500 101,100 Fair Value $125,000 93,800 The available-for-sale securities are held as a long-term investment. Your answer is correct. Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit acc entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (1) Fair Value Adjustment-Trading...
2 points Question 1.24 The valuation allowance for trading investments account is found on the o income statement as other revenve (expense) balance sheet as an adjustment to the asset account o statement of retained eamings O balance sheet as an adustment to stockholders' equity 2 points Question 1.25 Trading securities are reported at fair value on the balance sheet and as unrealized gains or losses on the income statement o not reported on the balance sheet reported as unrealized...
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