Accounting (Text Only)
26th Edition
ISBN: 9781285743615
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Question
Chapter 15, Problem 15.28EX
To determine
Comprehensive income: The financial items which result in changes in the
Comprehensive income for Corporation C, for the year ended December 31, 2016
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On January 1, 2016, a company's balance sheet reports
its investments in debt securities as follows:
Assets
Investment in trading securities
Investment in AFS securities
Investment in HTM securities
Equity
Accumulated other comprehensive income:
Unrealized gains (losses) on AFS securities
Additional information:
a. The HTM securities are $210,000 face value
securities purchased on January 1, 2014, at a yield of
4%. The securities have a 4-year total life and pay
interest annually on December 31, at a coupon rate of
6%.
$165,000
95,000
217,922
$4,500
b. The trading securities on hand on January 1 were
sold in 2016 for $185,000.
c. More trading securities were purchased for
$105,000. They are still on hand at December 31, 2016,
and have a fair value of $120,000.
d. AFS securities, originally purchased for $27,000 with
a carrying value of $24,000 as of January 1, 2016, were
sold for $32,000.
e. AFS securities on hand at December 31, 2016, have a
fair value of $85,000
$20,000
$15,000…
Data related to available-for sale securities for Aetna Corporation for the Year 2016 is
provided below:
Mark-to-market value of available-for-sale securities, Ending
Amortized cost of available-for-sale securities, Beginning
Purchases of available-for-sale securities during the year
Amortized cost of available-for-sale securities, Ending
$8,000
$1,200
$3,000
$1,550
Mark-to-market
value of available-for-sale securities,
Beginning
$4,500
Additional information:
No dividend revenue or interest revenue earned or received during the
year.
No securities were sold, and no securities were matured during the year.
What would be the unrealized gain or loss for the year 2016?
a. $500 Unrealized gain
b. $1,300 Unrealized loss
c. $2,150 Unrealized gain
d. $1,800 Unrealized loss
Chapter 15 Solutions
Accounting (Text Only)
Ch. 15 - Why might a business invest cash in temporary...Ch. 15 - What causes a gain or loss on the sale of a bond...Ch. 15 - When is the equity method the appropriate...Ch. 15 - How does the accounting for a dividend received...Ch. 15 - Prob. 5DQCh. 15 - What is the major difference in the accounting for...Ch. 15 - Prob. 7DQCh. 15 - How would a debit balance in Unrealized Gain...Ch. 15 - What are the factors contributing to the trend...Ch. 15 - Prob. 10DQ
Ch. 15 - Prob. 15.1APECh. 15 - Bond investment transactions Journalize the...Ch. 15 - Prob. 15.2APECh. 15 - Stock investment transactions On September 12,...Ch. 15 - Prob. 15.3APECh. 15 - Prob. 15.3BPECh. 15 - Prob. 15.4APECh. 15 - Prob. 15.4BPECh. 15 - Prob. 15.5APECh. 15 - Prob. 15.5BPECh. 15 - Prob. 15.6APECh. 15 - Prob. 15.6BPECh. 15 - Prob. 15.1EXCh. 15 - Prob. 15.2EXCh. 15 - Prob. 15.3EXCh. 15 - Prob. 15.4EXCh. 15 - Prob. 15.5EXCh. 15 - Entries for investment in stock, receipt of...Ch. 15 - Prob. 15.7EXCh. 15 - Prob. 15.8EXCh. 15 - Entries for stock investments, dividends, and sale...Ch. 15 - Prob. 15.10EXCh. 15 - Prob. 15.11EXCh. 15 - Prob. 15.12EXCh. 15 - Prob. 15.13EXCh. 15 - Prob. 15.14EXCh. 15 - Prob. 15.15EXCh. 15 - Prob. 15.16EXCh. 15 - Fair value journal entries, trading investments...Ch. 15 - Prob. 15.18EXCh. 15 - Prob. 15.19EXCh. 15 - Prob. 15.20EXCh. 15 - Prob. 15.21EXCh. 15 - Prob. 15.22EXCh. 15 - Prob. 15.23EXCh. 15 - Prob. 15.24EXCh. 15 - Prob. 15.25EXCh. 15 - Prob. 15.26EXCh. 15 - Prob. 15.27EXCh. 15 - Prob. 15.28EXCh. 15 - Prob. 15.29EXCh. 15 - Prob. 15.1APRCh. 15 - Prob. 15.2APRCh. 15 - Stock Investment transaction, equity method and...Ch. 15 - Prob. 15.4APRCh. 15 - Prob. 15.1BPRCh. 15 - Prob. 15.2BPRCh. 15 - Stock investment transactions, equity method and...Ch. 15 - Prob. 15.4BPRCh. 15 - Selected transactions completed by Equinox...Ch. 15 - Benefits of fair value On July 16, 1998, Wyatt...Ch. 15 - International fair value accounting International...Ch. 15 - Prob. 15.3CPCh. 15 - Warren Buffett and "look-through" earnings...Ch. 15 - Prob. 15.5CP
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