Oriole Inc. | ||
Statement of Comprehensive Income | ||
For the Year Ended December 31, 2020 | ||
Net income | $ 125,000.00 | |
Other comprehensive income | ||
Unrealized holding gain | $ 3,500.00 | |
Comprehensive income | $ 128,500.00 | |
2) | ||
Oriole Inc. | ||
Statement of Comprehensive Income | ||
For the Year Ended December 31, 2021 | ||
Net income | $ 135,000.00 | |
Other comprehensive income | ||
Unrealized holding gain | $ 44,000.00 | |
Add: Reclassification adjustment for loss included in net income (17500-14600) | $ 2,900.00 | $ 46,900.00 |
Comprehensive income | $ 181,900.00 | |
Accumulated other comprehensive income: | ||
Beginning balance, January 1, 2021 | $ 3,500.00 | |
Current period other comprehensive income | $ 44,000.00 | |
Amount reclassified from accumulated other comprehensive income | $ 2,900.00 | |
Unrealized holding gain | $ 46,900.00 | |
Ending balance, December 31, 2021 | $ 50,400.00 | |
At December 31, 2020, the available-for-sale debt portfolio for Oriole, Inc. is as follows. Security Cost...
At December 31, 2020, the available-for-sale debt portfolio for Oriole, Inc. is as follows. 100 Security Cost Fair Value $17,500 $14,500 11,500 15,400 23,000 25,900 Total $52,000 $55,800 Previous fair value adjustment balance- Unrealized Gain (Loss) $13,000) 3,900 2,900 3,800 300 Dr. Fair value adjustment-Dr. $3,500 On January 20, 2021, Oriole, Inc. sold security A for $14,600. The sale proceeds are net of brokerage fees. Oriole, Inc. reports net income in 2020 of $125,000 and in 2021 of $135,000. Total...
At December 31, 2020, the available-for-sale debt portfolio for Blossom, Inc. is as follows. Security Cost Fair Value $17,000 $14,000 11,000 14,000 22,000 25,500 Total $50,000 $53,500 Previous fair value adjustment balance- Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(3,000) 3,000 3,500 3,500 300 $3,200 On January 20, 2021, Blossom, Inc. sold security A for $14,100. The sale proceeds are net of brokerage fees. Blossom, Inc. reports net income in 2020 of $115,000 and in 2021 of $135,000. Total holding...
At December 31, 2020, the available-for-sale debt portfolio for Ivanhoe, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $17,100 $14,200 $(2,900) B 11,800 15,300 3,500 C 22,000 25,600 3,600 Total $50,900 $55,100 4,200 Previous fair value adjustment balance—Dr. 300 Fair value adjustment—Dr. $3,900 On January 20, 2021, Ivanhoe, Inc. sold security A for $14,300. The sale proceeds are net of brokerage fees. Ivanhoe, Inc. reports net income in 2020 of $117,000 and in 2021 of $141,000....
At December 31, 2020, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $17,600 $14,200 $(3,400 ) B 11,000 14,800 3,800 C 23,400 26,300 2,900 Total $52,000 $55,300 3,300 Previous fair value adjustment balance—Dr. 300 Fair value adjustment—Dr. $3,000 On January 20, 2021, Cullumber, Inc. sold security A for $14,300. The sale proceeds are net of brokerage fees. Cullumber, Inc. reports net income in 2020 of $123,000 and in 2021 of...
At December 31, 2020, the available-for-sale debt portfolio for Wildhorse, Inc. is as follows. Security - Cost Fair Value $18,000 $15,300 12,500 14,500 22,200 25,500 Total $52,700 $55,300 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(2,700 ) 2,000 3,300 2,600 300 $2,300 On January 20, 2021, Wildhorse, Inc. sold security A for $15,400. The sale proceeds are net of brokerage fees. Wildhorse, Inc. reports net income in 2020 of $122,000 and in 2021 of $142,000. Total...
At December 31, 2020, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $17,600 $14,200 $(3,400 ) B 11,000 14,800 3,800 C 23,400 26,300 2,900 Total $52,000 $55,300 3,300 Previous fair value adjustment balance—Dr. 300 Fair value adjustment—Dr. $3,000 On January 20, 2021, Cullumber, Inc. sold security A for $14,300. The sale proceeds are net of brokerage fees. Cullumber, Inc. reports net income in 2020 of $123,000 and in 2021 of...
At December 31, 2017, the available-for-sale debt portfolio for Bridgeport, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $114,625 $98,250 $(16,375 ) B 81,875 91,700 9,825 C 150,650 167,025 16,375 Total $347,150 $356,975 9,825 Previous fair value adjustment balance—Dr. 2,620 Fair value adjustment—Dr. $7,205 On January 20, 2018, Bridgeport, Inc. sold security A for $98,905. The sale proceeds are net of brokerage fees. Bridgeport Inc. reports net income in 2017 of $786,000 and in 2018 of...
At December 31, 2017, the available-for-sale debt portfolio for Sage, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $70,875 $60,750 $(10,125 ) B 50,625 56,700 6,075 C 93,150 103,275 10,125 Total $214,650 $220,725 6,075 Previous fair value adjustment balance—Dr. 1,620 Fair value adjustment—Dr. $4,455 On January 20, 2018, Sage, Inc. sold security A for $61,155. The sale proceeds are net of brokerage fees. Sage Inc. reports net income in 2017 of $486,000 and in 2018 of...
At December 31, 2017, the available-for-sale debt portfolio for Cullumber, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $97,125 $83,250 $(13,875 ) B 69,375 77,700 8,325 C 127,650 141,525 13,875 Total $294,150 $302,475 8,325 Previous fair value adjustment balance—Dr. 2,220 Fair value adjustment—Dr. $6,105 On January 20, 2018, Cullumber, Inc. sold security A for $83,805. The sale proceeds are net of brokerage fees. Cullumber Inc. reports net income in 2017 of $666,000 and in 2018 of...
Question 15 At December 31, 2017, the available-for-sale debt portfolio for Flint, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $175,875 $150,750 $(25,125 ) B 125,625 140,700 15,075 C 231,150 256,275 25,125 Total $532,650 $547,725 15,075 Previous fair value adjustment balance—Dr. 4,020 Fair value adjustment—Dr. $11,055 On January 20, 2018, Flint, Inc. sold security A for $151,755. The sale proceeds are net of brokerage fees. Flint Inc. reports net income in 2017 of $1,206,000 and in...