Computational- Show your solution in good form 1. Information regarding Stone Co.'s portfolio of FVOCI securities is as follows: Aggregate cost as of 12/31/03 Unrealized gains as of 12/31/03 Unrealized losses as of 12/31/03 170,000 4,000 26,000 30,000 Net realized gains during 2003 At December 31, 2002, Stone reported an unrealized loss of P1,500 in other comprehensive income to reduce these securities to market. Under the accumulated other comprehensive income in stockholders' equity section of its December 31, 2003 balance sheet, what amount should Stone report?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Computational- Show your solution in good form
1. Information regarding Stone Co.'s portfolio of FVOCI securities is as follows:
Aggregate cost as of 12/31/03
Unrealized gains as of 12/31/03
Unrealized losses as of 12/31/03
170,000
4,000
26,000
30,000
Net realized gains during 2003
At December 31, 2002, Stone reported an unrealized loss of P1,500 in other comprehensive
income to reduce these securities to market. Under the accumulated other comprehensive income
in stockholders' equity section of its December 31, 2003 balance sheet, what amount should Stone
report?
Transcribed Image Text:Computational- Show your solution in good form 1. Information regarding Stone Co.'s portfolio of FVOCI securities is as follows: Aggregate cost as of 12/31/03 Unrealized gains as of 12/31/03 Unrealized losses as of 12/31/03 170,000 4,000 26,000 30,000 Net realized gains during 2003 At December 31, 2002, Stone reported an unrealized loss of P1,500 in other comprehensive income to reduce these securities to market. Under the accumulated other comprehensive income in stockholders' equity section of its December 31, 2003 balance sheet, what amount should Stone report?
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Investments and Financial instruments
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education