User Account

All Pages

Record the sale and reclassification entry at June

Assignment Help Accounting Basics
Reference no: EM132595600

Question - Martinez Ltd. has a single investment that it accounts for using FV-OCI. The carrying value of the investment at the last reporting period was $85,700. To date, $2,710 of unrealized gains on fair value adjustments have been recorded to other comprehensive income. The original cost of the investment is therefore $82,990. On June 15, when the market value of the investment is $86,290, Martinez sold the investment. Using the three-step approach, record the sale and reclassification (recycling) entry at June 15, assuming the investment is an equity investment and the company reclassifies gains or losses to Retained Earnings on disposition of the investment.

Reference no: EM132595600

Questions Cloud

What is the new total capital ratio : If the bank issues $460,000 in common stock and uses it to issue mortgage loans (risk-weight 17%), what is the new total capital ratio?
About radical behaviorism : Search for 1 scholarly article online that would provide further knowledge about Radical Behaviorism.
Dedicated to being learning organization : Based on this learning materials, conduct research and write a paper about a successful organization that is dedicated to being a learning organization.
Find the period in which the amount : Find the period in which the amount in each case becomes 52000. How much money was invested in each case?
Record the sale and reclassification entry at June : On June 15, when the market value of the investment is $86,290, Martinez sold the investment. Using the three-step approach, record the sale
What would you change about the organization : Who are the leaders of the organization? What would you change about the organization to make it better, without sacrificing ethical standards?
Compute earnings per share data : At December 31, 2016, Monty Corporation had the following stock outstanding. Compute earnings per share data as it should appear
What the overall effect on the company operating income : The company is currently selling 5,100 units per month. What should be the overall effect on the company's monthly net operating income of this change
The banking structure of firm in terms of current investment : The banking structure of the firm in terms of current and past investments, what industry it is in, and any relevant history or background information.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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