User Account

All Pages

What should Richman Company report

Assignment Help Financial Accounting
Reference no: EM132768027

Question - Richman Company purchased $900,000 of 8%, 5-year bonds from Carlin, Inc. on January 1, 2024, with interest payable on July 1 and January 1. The bonds sold for $937,422 at an effective interest rate of 7%. Using the effective interest method, Richman Company decreased the Available-for-Sale Debt Securities account for the Carlin, Inc. bonds on July 1, 2024 and December 31, 2024 by the amortized premiums of $3,186 and $3,294, respectively.

At December 31, 2014, the fair value of the Carlin, Inc. bonds was $954,000. What should Richman Company report as other comprehensive income and as a separate component of stockholders' equity?

a. $6,480

b. $16,578

c. $23,058

d. $0

Reference no: EM132768027

Questions Cloud

Discuss difference between external and internal evidence : Discuss the difference between external and internal evidence as it relates to your PICOT search strategy. Address the strengths and weaknesses of searching.
Technological change is generally regarded : Technological change is generally regarded as being associated with a high degree of uncertainly.
Why is vulnerability assessment critical for data security : "Why is vulnerability assessment critical for data security?" And also prepare twelve minutes or more presentations on this topic by adding notes
Describe the mercantilisma theory of international trade : Why do countries trade with each other? What would happen if countries curtailed or did not trade with each other? Select a theory discussed in chapter 2.
What should Richman Company report : At December 31, 2014, the fair value of the Carlin, Inc. bonds was $954,000. What should Richman Company report as other comprehensive income
Describe the aacn synergy model : Select one model from the above list and read the original source description. Address how well the model meets the following purposes: Helping to organize.
Compute the ending balance of accounts receivable : Kerwick Company had accounts receivable of $100,000 on January 1, 2022. Compute the ending balance of accounts receivable
Research an advanced nursing practice role : For this assignment, you will research an advanced nursing practice role and summarize your findings in 2-4 page paper (excluding the title page and reference).
Social engineering analysis : Social Engineering Analysis group research experience; what did go well? what were challenges? How you divided the work between 10 members.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine how much money need to contribute per month

Justin is planning on retirement investment, if invested at 6 percent per year. How much money does he need to contribute per month to reach his goal?

  Reporting classifications for statement of cash flows

Listed below are the reporting classifications for a statement of cash flows using the direct method for reporting operating cash flows. Investing Cash outflow Acquisition of equipment by issuing bonds payable. Noncash financing and investing activit..

  Deductions require choice between income and estate taxes

Estate Tax (you must need to use all pages of IRS Form 706 to complete this file). You need to upload completed answer with 706 forms all pages as PDF files to view. I need all PDF files, do not save them into word document please. Some deductions re..

  Determine the outstanding checks at august

REQUIRED- Determine the following: Outstanding checks at August 31, 2016. Deposits in transit at July 31, 2016

  Calculate free cash flow income statement

Calculate free cash flow income statement 2017 sales 1640 cost of sales 880 for 2017 for Monarch Textiles inc. Based on the financial information

  Why investors might be willing to pay an increasing price

Explain the different effects that a stock dividend and stock split would have on International Company's financial position and number of shares .

  Which is an example of a product cost

Which of the following is an example of a product cost? depreciation on company cars used by sales force./ company president's salary

  Calculate the brown agi

Calculate the Brown's AGI. Michael and Sabrina are married and have three children, Amara, Bryan, and Skyla. They live at 120 Main Street, Flushing NY 11425.

  What is the donees basis for purposes of determining loss

Donor made a gift of property to donee. If the donee sells the property for $75,000, What is the donee's basis for purposes of determining loss is equal to

  Capital account increase as a result of transaction

By what amount should the additional paid-in capital account increase as a result of this transaction?

  Show the amounts to be included in the financial statements

Show the amounts to be included in the financial statements of Marley Limited for the year ended 31 December 2012 in respect of this.

  Prepare the journal entries for december on the books

Prepare the journal entries for December on the books of the consignor, assuming that Gross profits on consignment sales are not determined separately.

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