Homework Answers
The total amount of stakeholders equity in the given scenario will be
common stock + retained earnings - unrealised losses on available for sale securities
15500000+12000000-12000000=26300000.
Hence the answer would be a.
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Vanessa Corp. has common stock of $15.500.000, retained earnings of $12,000,000, unrealized gains on trading securities...
Vanessa Corp. has common stock of $15,500,000, retained earnings of $12,000,000, unrealized gains on trading securities...
Vanessa Corp. has common stock of $15,500,000, retained earnings of
$12,000,000, unrealized gains on trading securities of $1,100,000
and unrealized losses on available-for-sale securities of
$1,200,000. What is the total amount of its stockholders' equity?
Vanessa Corp. has common stock of $15,500,000, 10) retained earnings of $12,000,000, unrealized gains on trading securities of $1,100,000 and unrealized losses on available-for-sale securities of $1,200,000. What is the total amount of its stockholders' equity? $26,300,000 $26,100,000 $25,300,000 $27,400,000 a. b. с. d.
Southeast Bank invests in trading securities and prepares quarterly financial statements. At the beginning of the...
Southeast Bank invests in trading securities and prepares quarterly financial statements. At the beginning of the fourth quarter of 2018, the bank held as trading securities 160 shares of Eglan Company common stock that originally cost $4,560. At that time, these securities had a fair value of $4,320. During the fourth quarter, the bank engaged in the following trading securities transactions: Oct. 26 Purchased 360 shares of Farrell Company common stock for $38 per share. Nov. 26 Sold 160 shares...
Hurricane Inc. purchased a portfolio of available-for-sale securities in Year 1, its first year of operations....
Hurricane Inc. purchased a portfolio of available-for-sale securities in Year 1, its first year of operations. The cost and fair value of this portfolio on December 31, Year 1, was as follows: 1 Name Number of Shares Total Cost Total Fair Value 2 Tornado Inc. 830.00 $14,857.00 $16,185.00 3 Tsunami Corp. 1,230.00 31,488.00 34,809.00 4 Typhoon Corp. 2,170.00 44,268.00 43,834.00 5 Total $90,613.00 $94,828.00 On June 12, Year 2, Hurricane purchased 1,400 shares of Rogue Wave Inc. at $50 per...
Which type(s) of securities require a reclassification adjustment when an investment that has previously had unrealized...
Which type(s) of securities require a reclassification adjustment when an investment that has previously had unrealized gains or losses is sold for a realized gain or loss? Question 1 options: a) Held-to-maturity securities b) Available-for-sale securities c) Trading securities d) All of the above
Time Left:0:44:46 Barnabas Harris: Attempt 1 Question 1 (1 point) Both trading securities and securities available...
Time Left:0:44:46 Barnabas Harris: Attempt 1 Question 1 (1 point) Both trading securities and securities available for sale are reported at their fair values True False Question 2 (1 point) Net unrealized holding gains (losses) are reported in the income statement for trading securities. True False Question 3 (1 point) All securities considered available for sale should be reported as current assets in a classified balance sheet. True False Question 4 (1 point) When available-for-sale securities are sold, the amount...
Trading Securities Instructions Chart of Accounts Labels and Amount Descriptions General Journal Income Statement Balance Sheet...
Trading Securities Instructions Chart of Accounts Labels and Amount Descriptions General Journal Income Statement Balance Sheet Instructions Southeast Bank invests in trading securities and prepares quarterly financial statements. At the beginning of the fourth quarter of 2018, the bank held as trading securities 220 shares of Eglan Company common stock that originally cost $5,940. At that time, these securities had a fair value of $5,720. During the fourth quarter, the bank engaged in the following trading securities transactions: Oct. 26...
21) Tina's Corp. provided the following partial balance sheet: TINA'S CORPS Balance Sheet (partial) Stockholders' E...
21) Tina's Corp. provided the following partial balance sheet: TINA'S CORPS Balance Sheet (partial) Stockholders' Equity: $6,000,000 Common Stock 2,000,000 Retained Earnings 8,000,000 Total Paid-in capital and retained earnings 1.800,000 $17.800.000 Add: Unrealized gain on available-for-sale securities Total Stockholders' Equity: What effect will the unrealized gain on available-for-sale securities have on comprehensive income? a. No effect on comprehensive income. b. Increase of $1,800, 000 in comprehensive income. c. Increase of $3,800, 000 in comprehensive income. d. Decrease of $800,000 in...
an unrealized holding gain on available-for-sale debt securities $18,000. Instructions ment format. (Ignore income taxes and...
an unrealized holding gain on available-for-sale debt securities $18,000. Instructions ment format. (Ignore income taxes and earnings per share.) E4.16 (L05) (Comprehensive Income) C. Reither Co. reports the following information for 2020: sales revenue $700,000, cost of goods sold $500,000, operating expenses $80,000, and an unrealized hold ing loss on available-for-sale debt securities for 2020 of $60,000. It declared and paid a cash dividend of $10,000 in 2020. C. Reither Co. has January 1, 2020, balances in common stock $350,000;...
Exercise 16-12 a-b (Part Level Submission) (Video) Sandhill Company has the following data at December 31, 2020....
Exercise 16-12 a-b (Part Level Submission) (Video) Sandhill Company has the following data at December 31, 2020. Securities Cost Fair Value Trading $118,600 $123,200 Available-for-sale 103,800 90,600 The available-for-sale securities are held as a long-term investment. (a) (b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss) ace Sandhill Company Balance Sheet (Partial) December 31, 2020 Current Assets 123200 Investments Sandhill Company Income Statement (Partial) December 31, 2020 Sandhill, Company Comprehensive Income Statement December...
Tower Corp. had the following stock outstanding and Retained Earnings at December 31, 2015: Common Stock...
Tower Corp. had the following stock outstanding and Retained
Earnings at December 31, 2015:
Common Stock (par $8; outstanding, 23,000
shares)
$
184,000
Preferred Stock, 7% (par $10; outstanding, 5,300
shares)
53,000
Retained Earnings
273,000
On December 31, 2015, the board of directors
is considering the distribution of a cash dividend to the common
and preferred stockholders. No dividends were declared during 2013
or 2014, and none have been declared yet in 2015. Three independent
cases are assumed:
Case A:...
Vanessa Corp. has common stock of $15,500,000, retained earnings of
$12,000,000, unrealized gains on trading securities of $1,100,000
and unrealized losses on available-for-sale securities of
$1,200,000. What is the total amount of its stockholders' equity?
Vanessa Corp. has common stock of $15,500,000, 10) retained earnings of $12,000,000, unrealized gains on trading securities of $1,100,000 and unrealized losses on available-for-sale securities of $1,200,000. What is the total amount of its stockholders' equity? $26,300,000 $26,100,000 $25,300,000 $27,400,000 a. b. с. d.
Time Left:0:44:46 Barnabas Harris: Attempt 1 Question 1 (1 point) Both trading securities and securities available for sale are reported at their fair values True False Question 2 (1 point) Net unrealized holding gains (losses) are reported in the income statement for trading securities. True False Question 3 (1 point) All securities considered available for sale should be reported as current assets in a classified balance sheet. True False Question 4 (1 point) When available-for-sale securities are sold, the amount...
21) Tina's Corp. provided the following partial balance sheet: TINA'S CORPS Balance Sheet (partial) Stockholders' Equity: $6,000,000 Common Stock 2,000,000 Retained Earnings 8,000,000 Total Paid-in capital and retained earnings 1.800,000 $17.800.000 Add: Unrealized gain on available-for-sale securities Total Stockholders' Equity: What effect will the unrealized gain on available-for-sale securities have on comprehensive income? a. No effect on comprehensive income. b. Increase of $1,800, 000 in comprehensive income. c. Increase of $3,800, 000 in comprehensive income. d. Decrease of $800,000 in...
an unrealized holding gain on available-for-sale debt securities $18,000. Instructions ment format. (Ignore income taxes and earnings per share.) E4.16 (L05) (Comprehensive Income) C. Reither Co. reports the following information for 2020: sales revenue $700,000, cost of goods sold $500,000, operating expenses $80,000, and an unrealized hold ing loss on available-for-sale debt securities for 2020 of $60,000. It declared and paid a cash dividend of $10,000 in 2020. C. Reither Co. has January 1, 2020, balances in common stock $350,000;...
Exercise 16-12 a-b (Part Level Submission) (Video) Sandhill Company has the following data at December 31, 2020. Securities Cost Fair Value Trading $118,600 $123,200 Available-for-sale 103,800 90,600 The available-for-sale securities are held as a long-term investment. (a) (b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss) ace Sandhill Company Balance Sheet (Partial) December 31, 2020 Current Assets 123200 Investments Sandhill Company Income Statement (Partial) December 31, 2020 Sandhill, Company Comprehensive Income Statement December...
Tower Corp. had the following stock outstanding and Retained
Earnings at December 31, 2015:
Common Stock (par $8; outstanding, 23,000
shares)
$
184,000
Preferred Stock, 7% (par $10; outstanding, 5,300
shares)
53,000
Retained Earnings
273,000
On December 31, 2015, the board of directors
is considering the distribution of a cash dividend to the common
and preferred stockholders. No dividends were declared during 2013
or 2014, and none have been declared yet in 2015. Three independent
cases are assumed:
Case A:...
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