1.
Investment: The act of allocating money to buy a monetary asset, in order to generate wealth in the future is referred to as investment.
Available-for-sale (AFS) securities: These are short-term or long-term investments in debt and equity securities with an intention of holding the investment for some strategic purposes like meeting liquidity needs or manage interest risk.
To Locate: The annual report of a public company that includes the footnote describing the securities available for sale, using the EDGAR in the SEC website.
2.
To Identify: The caption under which the securities are reported in the comparative balance sheets and to whether they are classified as current or non-current assets.
3.
To Explain: The method of reporting the realized gains and losses, in the comparative income statement.
4.
To Explain: The method of reporting the unrealized gains and losses, in the comparative statements and the shareholder’s equity.
5.
To Explain: Under what head accumulated unrealized gains or losses identifiable in the comparative balance sheets. And the reason for not reporting them in the Income Statement.
6.
To Explain: The information provided by the changes in the
Want to see the full answer?
Check out a sample textbook solution
Chapter 12 Solutions
ACNT 1371 PRINT UPGRADE
- What is the flexible budget variance for direct labourarrow_forwardMartinez Company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost Per Unit Direct materials Direct labor $ 5.50 $3.00 Variable manufacturing overhead $ 1.50 Fixed manufacturing overhead $ 4.00 Fixed selling expense $2.50 Fixed administrative expense $2.00 Sales commissions $ Variable administrative expense $0.50 For financial accounting purposes, what is the total amount of product costs incurred to make 10,000 units?arrow_forwardGross profit? & General Accountarrow_forward
- During a specific period, Nexus Technologies reported a decrease in total assets of $14,500 and an increase in stockholders' equity of $9,800. By what amount and direction must total liabilities have changed during that same period?arrow_forwardNeed general account ansarrow_forwardprovide this questions answer asap FOR THIS GENERAL ACCOUNTarrow_forward
Survey of Accounting (Accounting I)AccountingISBN:9781305961883Author:Carl WarrenPublisher:Cengage Learning
Cornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage Learning
Financial Reporting, Financial Statement Analysis...FinanceISBN:9781285190907Author:James M. Wahlen, Stephen P. Baginski, Mark BradshawPublisher:Cengage Learning
Financial & Managerial AccountingAccountingISBN:9781285866307Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning