Available for Sale Security: These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment. 1. To explain: Is the net unrealized loss on investment reported in the income statement.

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Answer 1

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Chapter C, Problem 15E

To determine

Available for Sale Security:

These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.

1.

To explain: Is the net unrealized loss on investment reported in the income statement.

2.

To determine

To explain: The financial statement in which €18 million unrealized loss is reported.

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Assets Current Assets Cash Credit card receivables Accounts receivable Marketable securities Food Inventories Prepaid expenses Total Current Assets Golden Bay Balance Sheet as at December 31 Year 2018 Year 2019 $ 18,500 9,807 $ 29,400 11,208 5,983 6,882 15,400 2,000 12,880 14,700 10 800 14 900 73370 79 090 Property Plant & Equipment Land Building Equipment Furnishings $ 60,500 828,400 114,900 75,730 (330,100) 16 600 766 030 839 400 $ 60,500 884,400 157,900 81,110 (422,000) 18 300 7 80 210 859 300 Net: Accumulated depreciation China, glass, silver, & linen Total Assets Liabilities & Stockholders' Equity Current Liabilities Accounts payable Accrued expenses payable Taxes payable Current mortgage payable Total Current assets $ 19,200 4,200 12,400 26 900 62 700 $16,500 5,000 20,900 26 000 68 400 Long-term liabilities Mortgage payable Total Liabilities $ $512 800 $486 400 575 500 $555 200 Stockholders' Equity Common stock ($5 par. 40,000 shares issued & OS) $200,000 Retained earnings…

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Answer 2

Question

Chapter C, Problem 15E

To determine

Available for Sale Security:

These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.

1.

To explain: Is the net unrealized loss on investment reported in the income statement.

2.

To determine

To explain: The financial statement in which €18 million unrealized loss is reported.

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Answer 3

Question

Chapter C, Problem 15E

To determine

Available for Sale Security:

These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.

1.

To explain: Is the net unrealized loss on investment reported in the income statement.

2.

To determine

To explain: The financial statement in which €18 million unrealized loss is reported.

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Answer 4

Question

Chapter C, Problem 15E

To determine

Available for Sale Security:

These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.

1.

To explain: Is the net unrealized loss on investment reported in the income statement.

2.

To determine

To explain: The financial statement in which €18 million unrealized loss is reported.

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Answer 5

Chapter C, Problem 15E

To determine

Available for Sale Security:

These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.

1.

To explain: Is the net unrealized loss on investment reported in the income statement.

2.

To determine

To explain: The financial statement in which €18 million unrealized loss is reported.

Answer 6

Chapter C, Problem 15E

To determine

Available for Sale Security:

These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.

1.

To explain: Is the net unrealized loss on investment reported in the income statement.

Answer 7

Chapter C, Problem 15E

To determine

Available for Sale Security:

These securities are different from the held to maturity security. It includes the debt and equity securities. The main reason to purchase this security is to earn interest and dividend on investment.

1.

To explain: Is the net unrealized loss on investment reported in the income statement.

Answer 8

2.

To determine

To explain: The financial statement in which €18 million unrealized loss is reported.

Answer 9

2.

To determine

To explain: The financial statement in which €18 million unrealized loss is reported.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. C - Prob. 1MCQ Ch. C - Prob. 2MCQ Ch. C - Prob. 3MCQ Ch. C - Prob. 4MCQ Ch. C - Prob. 5MCQ Ch. C - Prob. 1DQ Ch. C - Prob. 2DQ Ch. C - Prob. 3DQ Ch. C - Prob. 4DQ Ch. C - Prob. 5DQ

Solution Summary: The author explains that the net unrealized loss of €18 million is not reported in the income statement.

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To explain: The financial statement in which €18 million unrealized loss is reported.

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