What amount of unrealized gain or loss should be reported

Assignment Help Financial Accounting
Reference no: EM133009482

The following information pertains to the equity securities of Saionra Co. as at end of the fisal year June 30, 2021. The securities purchased were held as trading securities.

Security                   No. of shares                     Cost/share                  Fair Value/share @ 6.30.21

BSA                          1,750                               200                             300

BSMA                      17,500                               170                               160

BSFM                        35,000                                 155                                 145

On August 18, 2021 17,500 BSFM shares were sold for 150 per share

Problem 1. What amount should be reported as gain or loss on sale of trading securities? (Indicate whether gain or loss after the amount)

Problem 2. What amount of unrealized gain or loss should be reported in the income statement for the year ended June 30, 2021? (Indicate whether gain or loss after the amount)

Reference no: EM133009482

Questions Cloud

Which is not a feature of intangibles : Which is NOT a feature of intangibles that differentiates them from other assets? They often do not have well-defined property rights
Find how much can company y deduct from the bill : Company X sells on a 1/20, net 60, basis. Company Y buys goods with an invoice of $1,000. How much can company Y deduct from the bill if it pays on day 20?
Calculate the accounts receivable period : Calculate the accounts receivable period, accounts payable period, inventory period, and cash conversion cycle for the Income statement data
Functions of the victorian criminal justice system : Explain the purpose and functions of the Victorian criminal justice system and the interrelationship of its main components
What amount of unrealized gain or loss should be reported : What amount of unrealized gain or loss should be reported in the income statement for the year ended June 30, 2021? BSFM shares were sold for 150 per share
What does the equation mean based on expected utility theory : What does the equation, u(two room upgrades, one dinner) & (one room upgrade, two dinners), mean based on expected utility theory?
Why an organisation would use the time periods chose : Budgets can be classified by time period. Give 3 examples of this and explain why an organisation would use the time periods chosen.
What are the net cash flows from operating activities : Equipment costing $125,000 was purchased for cash. What are the net cash flows from operating, investing, and financing activities for Year 2?
Discussing human rights : Discussing Human Rights as International Humanitarian Law and Identify how states tactics to protect Human Rights Role of the International Community

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the combined net income before the correction

Calculate the combined net income for 2013 and 2014 before and after the correction of the error. Explain to Uncle Bill why the error was corrected in 2014 before it was actually discovered in 2015.

  Problem 1at the beginning of 20x2 dahl ltd acquired 8 of

problem 1at the beginning of 20x2 dahl ltd. acquired 8 of the outstanding common shares of tippy ltd. for 400000.nbsp

  What are key personality traits that make a good investment

What are the key personality traits that make a good Investment Banker (for IBD)? What's the most important experience you've had in your career so far? Why?

  Calculate Boehm dividends per share

Boehm Corporation has had stable earnings growth of 8% a year for the past 10 years, Calculate Boehm's dividends per share for 2020

  How much will the nunavut payroll tax be for john

John Smith, who normally works in Alberta, earned $4,500.00 while working in Nunavut in the current year. How much will the Nunavut Payroll Tax be for John

  Calculate the price of a one-year european put option

Calculate the price of a one-year European put option on the spot value of the S&P 500. The one-year futures price of the index is 3160

  Discuss how you could overcome that challenge

Identify a challenge in designing a new chart of account in Peachtree Complete Accounting if the person has limited accounting knowledge and discuss how you could overcome that challenge

  Why determine revenue has been earned if the sales process

Discuss why it is difficult for accountants to determine whether or not revenue has been earned if the sales process is not complete.

  Describe the economic and industry environment

BAFN200: Principles of Finance - Australian Catholic University - Peter Faber Business School - Describe the economic and industry environment for the industry

  What would pay for the stock today

R3.00 and dividends will grow at 5 percent per year thereafter. Given a required return of 15 percent, what would you pay for the stock today?

  Calculate the selling price for bonds with a face value

Calculate the selling price for bonds with a face value of $720,000 and face rate of 6%, issued to yield 8%, due in 10 years, paying interest semi-annually

  What amount of subsidized debt can get from the government

Alpha wonders what amount of subsidized debt they can get from the government. Esimate the amount they can use if they want to keep the same capital structure.

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