The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

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Answer 1

Question

Chapter 16, Problem 1FSAC

1.

To determine

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

2.

To determine

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

3.

To determine

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

4.

To determine

The type and amount of investment in each level of security in fiscal year 2013.

5.

To determine

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

6.

To determine

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

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26. Armstrong Co has produced the following net profit figures for the years ending 31 December. Sm 20X1 1.2 20X2 0.6 20X3 2.1 On 1 January 20X2 the number of shares outstanding was 600,000. During 20X2 the company announced a rights issue with the following details. Rights: 1 new share for each 4 outstanding Exercise price: $7.00 Last date to exercise rights: 1 May 20X2 The market (fair) value of one share in Armstrong immediately prior to exercise on 1 May 20X2 Required: Calculate the (a) EPS restated for rights issue for 20X1, (b) EPS for 20X2 and (c) EPS for 20X3. Show your calculations otherwise the answer will not be considered. = $10.00.

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Answer 2

Question

Chapter 16, Problem 1FSAC

1.

To determine

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

2.

To determine

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

3.

To determine

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

4.

To determine

The type and amount of investment in each level of security in fiscal year 2013.

5.

To determine

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

6.

To determine

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

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Answer 3

Question

Chapter 16, Problem 1FSAC

1.

To determine

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

2.

To determine

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

3.

To determine

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

4.

To determine

The type and amount of investment in each level of security in fiscal year 2013.

5.

To determine

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

6.

To determine

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

Expert Solution & Answer

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Answer 4

Question

Chapter 16, Problem 1FSAC

1.

To determine

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

2.

To determine

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

3.

To determine

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

4.

To determine

The type and amount of investment in each level of security in fiscal year 2013.

5.

To determine

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

6.

To determine

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

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Answer 5

Chapter 16, Problem 1FSAC

1.

To determine

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

2.

To determine

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

3.

To determine

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

4.

To determine

The type and amount of investment in each level of security in fiscal year 2013.

5.

To determine

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

6.

To determine

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

Answer 6

Chapter 16, Problem 1FSAC

1.

To determine

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

Answer 7

Chapter 16, Problem 1FSAC

1.

To determine

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

Answer 8

2.

To determine

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

Answer 9

2.

To determine

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

Answer 10

3.

To determine

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

Answer 11

3.

To determine

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

Answer 12

4.

To determine

The type and amount of investment in each level of security in fiscal year 2013.

Answer 13

4.

To determine

The type and amount of investment in each level of security in fiscal year 2013.

Answer 14

5.

To determine

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

Answer 15

5.

To determine

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

Answer 16

6.

To determine

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

Answer 17

6.

To determine

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

Answer 18

Expert Solution & Answer

Answer 19

Expert Solution & Answer

Answer 20

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Answer 21

Ch. 16 - Prob. 16.1Q Ch. 16 - Is reporting an investment at its cost considered...Ch. 16 - Prob. 16.3Q Ch. 16 - Prob. 16.4Q Ch. 16 - Prob. 16.5Q Ch. 16 - Prob. 16.6Q Ch. 16 - What categories can managers use to classify...Ch. 16 - When is the equity method of accounting for...Ch. 16 - Prob. 16.9Q Ch. 16 - Can companies apply the fair value option to all...

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

The composition of investment in the firm’s portfolio of held-to-maturity, trading and available for sale in the year 2013 and 2012, the percentage of investment to total asset and comment on changes.

The investment security reported at fair value in 2013 and 2012 and difference between fair value and cost value.

The effect of change in fair value on net income in 2013, 2012 and 2011; and the effect on net income if unrealized gain and losses reported in the net income instead of other comprehensive income.

The type and amount of investment in each level of security in fiscal year 2013.

To explain: The valuation method used and comment on any assumptions and estimates used in the valuation.

To explain: The reason because of which Company C is concerned about the harm to earnings when changes in fair value of securities are reported in other comprehensive income.

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Chapter 16 Solutions