User Account

All Pages

Determine how much income will hathaway recognize

Assignment Help Financial Accounting
Reference no: EM132601793

On July 1, 20X1, Hathaway Inc. purchased a $100,000, five-year, 6% bond when the market rate of interest was 7%. Interest was payable semi-annually on June 30 and December 31. The price paid for the bond was $95,842. Hathaway has a December 31 year end and reports its financial results in accordance with IFRS. Hathaway irrevocably elects to classify this investment at FVPL to significantly reduce a measurement inconsistency. On December 31, 20X1, the bond was actively trading for $96,900.

Question 1: How much income will Hathaway recognize on its financial statement for the year ended December 31, 20X1, relating to this investment?

Option 1: $1,058

Option 2: $3,355

Option 3: $4,058

Option 4: $4,413

Reference no: EM132601793

Questions Cloud

Discuss ways to integrate the modality : Research emotionally focused therapy (EFT) and identify two traditional family therapy models from which it was developed. Discuss ways to integrate.
What amount of revenue recognised in relation to database : Using the relative fair value approach, the amount of revenue recognised in relation to the database access is (rounded to the nearest whole dollar)
How does culture impact the trends : Based on your research and textbook readings, what three trends do you believe are evolving the practice of family therapy and why? How does culture impact.
The benjamini-hochberg procedure : The Benjamini-Hochberg procedure (BH procedure) is a great method for FDR control. Explain how you might use this in a manufacturing environment.
Determine how much income will hathaway recognize : Determine How much income will Hathaway recognize on its financial statement for the year ended December 31, 20X1, relating to this investment?
What is meant by autonomous : What is meant by 'autonomous' and then explore the benefits and challenges that autonomous vehicles may present in a future in which they are widely adopted
Calculate the discount rate for the project : a. Calculate the discount rate for the project. b. What is the maximum cost the company would be willing to pay for this project?
Describe the integrative models of couples or family therapy : Review the provided literature regarding current trends and integrative models of family therapy. Research two evidence-based or integrative models of couples.
What was the correct inventory on december : Question - Crane took physical inventory on 31 Dec. Total inventory on hand is $287,400. What was the correct inventory on 31 December

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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