Determine the necessary caption and amount

Assignment Help Accounting Basics
Reference no: EM132558714

Question - Monty Inc. shows on its statement of financial position its investments accounted for as FV-OCI investments. At its year end of May 31, 2018, the balance in the FV-OCI Investments account was $98,000 and at its year end of May 31, 2019, the balance was $124,500. Monty's statement of comprehensive income for the year ended May 31, 2019, shows an unrealized loss from fair value adjustment on FV-OCI investments of $25,000. There were no sales of FV-OCI investments during the year, only purchases.

Required - Determine the necessary caption and amount that should appear on Monty's statement of cash flows prepared using the indirect method and determine if the entry appear under the operating, investing, or financing section of the statement.

Reference no: EM132558714

Questions Cloud

Discuss the five legal principles of insurance : Define insurance from legal and business point of view. Discuss the five legal principles of insurance. Identify the general limitations of insurance
What is the net cash provided by investing activities : Vaughn Manufacturing had the following transactions during 2022: Issued $317500 of par value common stock for cash. What is the net cash provided by investing
What are some aspects of cost volume profit : What are some aspects of cost volume profit that may have been at play that led to the closure of business? Be sure to integrate the concepts of cost volume
What issues may have been included in a management letter : What issues may have been included in a management letter to your SEC 10-K company based on issues you have identified this semester
Determine the necessary caption and amount : Determine the necessary caption and amount that should appear on Monty's statement of cash flows prepared using the indirect method
Should Jerseys Inc accept the proposal : Jerseys, Inc., currently produces 10,000 jerseys a year for its regular customers and charges $10 per jersey. Should Jerseys Inc accept the proposal
What is the goal of the measurement system : Why should we measure, and what are examples of good performance measures? Why can it be difficult to fine true and effective measures?
What perceive to be the norms of the selected ethnic group : Explain how some of your norms differ from what you perceive to be the norms of the selected ethnic group (remember to be tactful, objective, and kind).
Determine the expected cash collections during May : Customers pay 60% of their balances in the month of sale, 30% in the month following sale, Determine the expected cash collections during May

Reviews

Write a Review

Accounting Basics Questions & Answers

  Problem using an electronic spreadsheet

Mr. James runs a retail shop. Calculate the net income or net loss in reference to the following transactions that occurred during the month of January. Solve this problem using an electronic spreadsheet.

  Draper company is authorized to issue 600000 shares of 5

draper company is authorized to issue 600000 shares of 5 par value common stock. by march 15 2011 the company had

  Deposits in transit not recorded by the bank

1. Balance per the bank on May 31, $8,000 2. Deposits in transit not recorded by the bank, $975

  Discuss the purpose of the work opportunity tax credit

Discuss the purpose of the work opportunity tax credit. Who receives the tax benefits from the credit

  Determine the appropriate forecasting approach for company

Suggest the semi-variable, allocated, and indirect costs that you should address in the start-up phase of your company. Provide a rationale to support

  What is the effect of the sale on the total amount

A vacant lot acquired for $150,000 is sold for $290,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) owner's equity?

  What total amount of cost should be assigned

Units completed and transferred out 20,000. What total amount of cost should be assigned to the units completed and transferred out during June

  Examine the concepts of working capital

Examine the concepts of working capital and the financial analysis of a company's working capital position. Use technology and information resources to research

  Calculating the perfectly competitive equilibrium

Demand and supply conditions in the perfectly com- petitive market for unskilled labor are as follows:

  Income statement of zamora inc

Prepare the operating activities section of the statement of cash flows using the indirect method - The income statement of Zamora Inc

  Journalizing the transaction-events-closing entries

a) Journalize the transaction, events, and closing entries b) Enter the beginning balances in the accounts, and post to the stockholders' equity accounts c) Prepare a retained earnings statement for the year d) Prepare a stockholders' equity section ..

  Explain why an investment portfolio composed of all stock

Explain why an investment portfolio composed of all the stocks in the S&P 500 is less risky than an investment portfolio composed of 20 stocks chosen randomly.

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