Instrument Corp. has the following equity investments which were held throughout 2010-2011: Fair Value Cost 12/31/10 12/31/11 FVTOCI $300,000 $400,000 $420,000 FVTPL 300,000 320,000 380,000 What amount of gain or loss would Instrument Corp. report in its income statement for the year ended December 31, 2011 related to Its Investments and what amount is reported in its statement of financial position ended December 31, 2011 for its investments? S Investment gain and S

Instrument Corp. has the following equity investments which were held throughout 2010-2011: Fair Value Cost 12/31/10 12/31/11 FVTOCI $300,000 $400,000 $420,000 FVTPL 300,000 320,000 380,000 What amount of gain or loss would Instrument Corp. report in its income statement for the year ended December 31, 2011 related to Its Investments and what amount is reported in its statement of financial position ended December 31, 2011 for its investments? S Investment gain and S

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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Following is a portion of the investments footnote from Redfield Inc.'s 2017 annual report. (in millions) 2017 Amortized cost of marketable equity $546,673 Gross unrealized gains 13,114 Gross unrealized losses $ 38,983 What amount does Redfield report for its passive investments in marketable equity securities on it 2017 balance sheet?
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Ayayai Company Limited reported the following for 2023: sales revenue, $1.16 million; cost of goods sold, $725, 000; selling and administrative expenses, $333, 000; gain on disposal of building, $283,000; and unrealized gain - OCI (related to FV- OCI equity investments with gains/losses not recycled), $17,000. Assume investments are accounted for as FV - OCI equity investments, with gains/losses not recycled through net income. Prepare a statement of comprehensive income. Ignore income tax and EPS.
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