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LED Corporation owns 100,000 shares of Branch Pharmaceuticals common stock and classifies its investment as securities available-for-sale. The market price of Branch's stock fell more than 30%, by $4.50 per share, due to concerns about one of the company's principal drugs. The concerns were justified when the FDA banned the drug. $1.00 per share of that decline in value already had been included in OCI as a temporary unrealized loss in a prior period. What journal entries should LED record to account for the decline in market value in the current period? How should the decline affect net income and comprehensive income?
Foam Pet Mattress Company can sell as many pet bed models A and B that it can produce, but the company has limited production capacity. It can produce two units of A or three units of B per hour and it has 4,000 production hours available.
Income statement format and EPS disclosures. Refer to the consolidated statements of earnings on page 711 of the Campbell Soup Company annual report in the appendix.
what is the market value of a bond that will pay a total of fifty semiannual coupons of rs.80 each over the remainder
Is it possible that a company receives a unqualified opinion from the auditors on the financial report but a qualified one on internal control?
for each of the following cases indicate why management and the auditors determined that control
Assume that the U.S. dollar is the subsidiary's functional currency. What balances does a consolidated balance sheet report as of December 31, 2011?
Determine the annual after tax interest cost for each company as a percentage of the face value of thebonds
1- diamond company produces a chair that requires 5 yds. of material per unit. the standard price of one yard of
zelda manufacturing organized in june and recorded the following transactions during june its first month of operations
graz school district accepts donations that are used to provide awards to graduating seniors. record the following
leiker corporation has these accounts at december 31 common stock 10 par 5000 shares issued 50000 paid-in capital in
In its first month of operations, Hiffin cComopany made thhree purchases of merchndise in the following sequence. 300 untits at $6 400 iunits at $8 500 units at $9 assumjing are 200 units on hand at the end of the period,Compute the costof end..
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