Classify assets and liabilities as current and noncurrent

Assignment Help Chemistry
Reference no: EM131959250

Below are two unrelated cases involving marketable equity securities. I am having difficulty explaining how the information provided affects the classificationcarrying value, and income reported for that company's investment securities. Please explain and provide justifications for explanations.

The balance sheet of a company does not classify assets and liabilities as current and noncurrent. The portfolio of available-for-sale equity securities includes securities normally considered current that have a net cost in excess of market value of $2,000. The remainder of the portfolio has a net market value in excess of cost of $5,000.

A company's noncurrent portfolio of marketable equity securities consists of the common stock of one company. At the end of the prior year, the market value of the security was 50% of original cost, and this effect was properly reflected in a Valuation Adjustment account. However, at the end of the current year, the market value of the security had appreciated to twice the original cost. The security is still considered noncurrent at year-end.

Reference no: EM131959250

Questions Cloud

What is the purpose and importance of financial analysis : What is the purpose and importance of financial analysis? What are financial ratios? Describe the "five-question approach" to using financial ratios.
Determine the non controlling in subsidiary income : The fair value of the machine is $65,900, and the remaining useful life is estimated to be 10 years.
Compute the geometric average annual return : Compute the geometric average annual return for the 5 companies using daily/monthly % change in share price.
Write a program for a car dealership that has a database : Write a program for a car dealership that has a database of information for different automobiles. The list of automobiles and attributes should be stored.
Classify assets and liabilities as current and noncurrent : The balance sheet of a company does not classify assets and liabilities as current and noncurrent.
Gross sales to the markets organizers : How many pies will she need to sell to cover her fixed costs and realize a $10,000 profit? (input the number only and round up to the nearest pie)
Calculate the price of the bond and create an amortization : The bonds are dated January 1, 2012, mature January 1, 2015, and pay interest on June 30 and December 31 of each year.
Prepare the journal entry to record intrest on december : On January 1, 2016, Bishop Company issued 10% bonds dated January 1, 2016 with a ace amount of 1,000,000. The bonds mature in 2020 (5 years).
What is the expected total costs for the worst case scenario : Orange believes that any of its forecasts including fixed costs could be high or low by as much as 6%. What is the expected total costs for the worst case

Reviews

Write a Review

Chemistry Questions & Answers

  Find out the equilibruim constant kc

At a given temperature,0.0500 mol NO, 0.200 mol Cl2, and 0.550 mol CINO were placed into a 1.00 L container. The equilibrium below was established and 0.250 mol of CINO is present. Determine the equilibruim constant (Kc).

  Valence electron configuration

Why are d orbitals not included in valence electron configuration?

  Find out the molality and molarity of the hcl

Determine the molality and molarity of the HCL, if the solution has a density of 1.20 g/ml.

  Question regarding the external pressure

What is the value of the work when an external pressure of 750 torr expands a chamber from 2.2 liters to 9.7 liters? Please answer in units of J.

  Explain how many mols of oxygen were collected

A 550 mL sample of Oxygen gas is collected over water at a temperature of 21.0 degree Celsius as well as a pressure of 743 mmHg according to the following reaction. Vapor pressure of water at 21.0 degree Celsius = 18.7 mmHg, 1 atm = 760 mmHg

  Compute the required pressure drop across

The viscosity of the broth is 1.5 cp, the particle density is 15 g/liter and the specific cake resistance (a) is 8.5x1010 cm/g. The diameter of the filter drum is 1.25 m and it length is 1.5 m. Calculate the required pressure drop across the filte..

  Find out partial pressures of h2o

The value of Kp for the reaction under is 0.090 at 25 Celsius. Originally H2O(g) and Cl2(g) are combine at partial pressures of 1.00atm and 2.00 atm.

  At room temperature 20circ rm c milk turns sour in about 63

at room temperature 20circ rm c milk turns sour in about 63 hours. in a refrigerator at 3circ rm c milk can be stored

  The density of the solution

Problem- How many grams of Na2CO3 are present in 15.5 mL of a solution that is 26.0% Na2CO3 by mass. The density of the solution is 1.14 g/ml.

  Define the complete nuclear equation

Complete the following reaction: Pb-210 decays by ? (beta) emission to form what new necleus? Write the complete nuclear equation.

  Define how much theraputic strength does a cesium 131 source

Cesium-131 is a short-lived radioisotope (t1/2)=9.7 days) used to treat prostate cancer, How much theraputic strength does a cesium 131 source lose over 60 days

  Determine the molar heat of neutralization for the reaction

A student mixes 50 ml of 1.00M H2SO4 react with 100. ml (1 x 10^2 ml) of 1.00M NaOH in a calorimeter. The temperature of both solutions initially at 22.85 deg Celsius changes to 28.86 deg Celsius.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd