Bruce Company purchased $2,000,000 of Clarence, Incorporated, 4.0% bonds at par on July 1, 2023, with interest paidsemi-annually. Bruce determined that it should account for the bonds as an available-for-sale investment. At December 31,2023, the Clarence bonds had a fair value of $2,300,000. Bruce sold the Clarence bonds on July 1, 2024 for $1,950,000.Face amount of bondStated (and market) rateDecember 31, 2023 fair value of bondsSelling price of bonds, July 1, 2024$2,000,0004.0%$2,300,000$1,950,000Complete the following tables to show the effect of the Clarence bonds on Bruce's net income, other comprehensive income,and comprehensive income for 2023, 2024, and cumulatively over the two-year period. FORMULAS FOR LOSSES MUST RETURNNEGATIVE VALUES. Interest revenueGain (loss) on investment (Net income)Gain (loss) on investment (Unrealized)Reclassification adjustment (OCI)Net incomeOther Comprehensive incomeComprehensive income2023$40,0000300,000300,0002023$40,000300,000$340,0002024$40,000(50,000)300,000(300,000)2024($10,000)(300,000)($310,000)Total$80,000(50,000)600,0000Total$30,0000$30,000

The bond face value is $2,000,000.Rate stated (and market): 4.0%The fair value of bonds as of…

Interest revenue Gain (loss) on investment (Net income) Gain (loss) on investment (Unrealized) Reclassification adjustment (OCI) Net income Other Comprehensive income Comprehensive income 2023 $40,000 0 300,000 300,000 2023 $40,000 300,000 $340,000 2024 $40,000 (50,000) 300,000 (300,000) 2024 ($10,000) (300,000) ($310,000) Total $80,000 (50,000) 600,000 Total 0 $30,000 0 $30,000

Interest revenue Gain (loss) on investment (Net income) Gain (loss) on investment (Unrealized) Reclassification adjustment (OCI) Net income Other Comprehensive income Comprehensive income 2023 $40,000 0 300,000 300,000 2023 $40,000 300,000 $340,000 2024 $40,000 (50,000) 300,000 (300,000) 2024 ($10,000) (300,000) ($310,000) Total $80,000 (50,000) 600,000 Total 0 $30,000 0 $30,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2020 (RM) 2019 (RM) 2018 (RM) Investment Income 45,335,069 13,237,244 19,474,895 Expenses -6,039,755 -2,270,688 -1,853,602 Net Income before taxation 39,295,314 10,966,556 14,621,293 Net Income after taxation 39,335,238 10,953,497 17,551,931 2020(RM) 2019 (RM) 2018 (RM) Total Investments 501,519,061 154,032,209 84,711,928 Other Assets 6,732,463 9,085,056 3,173,994 Total Assets 508,251,524 163,117,265 87,885,922 Total Liabilities -3,411,047 -2,276,421 -255,684 Number of Unit in Circulation 500,000,000 500,000,000 500,000,000 NAV/Unit Holder’s Capital per share 1. Based on the historical financial highlights extracted of statement of income and expenditure, calculate the Net Asset Value (NAV) per share of the respective funds?
Maples group Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/(Decrease Assets Cash and cash equivalent 64,990 61,895 ? Accounts receivable 95,100 88,500 ? Inventories 72,500 79,855 ? Fixed Assets, net ? ? ? Total Assets 442,590 395,800 46,790 Liabilities Accounts payable 45,000 58,350 ? Accrued liabilities ? ? ? Long –term notes payable 99,500 128,550 ? Stockholder’ Equity: Common Stock 143,050 105,110 37,940 Retained earnings 43,540 24,290 19,250 Total liabilities and stockholders’ equity 442, 590 395, 800…
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2) Calculate the change in Working Capital given the following: 2021 2020 A/R 240 A/P 185 A/R 255 A/P 165 INV 210 Int/P 145 INV 225 Int/P 155 W/C 2021 W/C 2020 Change in Working Capital =
Table 1: Gress Income Levels Amount (Millions) Beta Factor Disaggregate Gross Income 2020 2021 0.2 2.0 1.2 2.2 2.2 2018 2019 No Business Line/Year Corporate finance Trading and sales Retail banking Commercial banking 5 0.7 0.6 2.2 18% 2.2 2.4 18% 12% 2.2 0.5 1.3 4.1 1.1 2.0 0.5 3.2 15% 18% 0.4 Payment and settlement 6. 1.6 Agency services 7. 0.5 1.1 3.2 1.4 15% 12% 2.0 5.7 0.5 0.8 Asset management Retail brokerage 8. 0.2 0.4 3.9 1.6 12% Aggregate Gross Income 2019 2020 2021 16.0 14.0 15% 2018 Bank Level 14.2 10.0 Using the information in the table above, calculate the minimum capital requirement for the years 2021 and 2022 for operational risk under Basel II using the i) Basic Indicator Approach (BIA) ii) Standardised Approach (SA)
A. 360,000 B. 270, 000 C. 300,000 D. 306,000
A. P4,000,000 B. P4,500,000 C. P4,800,000 D. P5,300,000 E. answer not given
What is the Asset Turnover Ratio in 2020?