Reference no: EM132601804
Carlton Corp.'s investment strategy focuses on purchasing debt instruments such as bonds, mortgages, and loans. The company values its investments in these financial instruments at FVOCI, a decision that is consistent with its business model. Separate entries are prepared to record interest revenue and the adjustment to fair value.
Currently Carlton has an investment in one bond. Pertinent details follow:
Book value (net carrying value) of investment on December 30, 20X4$98,500Interest received on investment on December 31, 20X4$3,000Interest revenue recognized on investment on December 31, 20X4$3,157Market value of investment on December 31, 20X4$98,700
Problem 1: The adjusting journal entry on December 31, 20X4, to bring the investment to its fair value would include which of the following components?
Option 1: Debit "investment in financial asset at FVOCI" for $43.
Option 2: Debit "investment in financial asset at FVOCI" for $200.
Option 3: Credit "OCI - holding gain on investment in financial assets at FVOCI" for $200.
Option 4: Credit "OCI - holding gain on investment in financial assets at FVOCI
|
How future governmental policies impact personal beliefs
: How current and future governmental policies could impact personal beliefs and practices of that community in the future. Be creative. Include a title slide.
|
|
Explain the type of retirement savings plan
: Explain the type of retirement savings plan you would recommend to a 35-year-old married female employee who has two children, ages five
|
|
Calculate the weighted-average accumulated expenditures
: On March 1, Patricia Co. began construction of a small building. Calculate the weighted-average accumulated expenditures
|
|
How knowledge of effective persuasion strategies benefit
: Think about how preparation impacts your negotiation success in your professional and personal life. How could knowledge of effective persuasion strategies.
|
|
What the adjusting journal entry on december
: What the adjusting journal entry on December 31, 20X4, to bring the investment to its fair value would include which of the following components?
|
|
Compute cash collections from customers for each month
: Ivanhoe Industries expects credit sales for January, February, and March to be $210,900, $266,000, and $311,900, Compute cash collections from customers
|
|
What the total cash flows from investing activities is
: What the total cash flows from investing activities is determined as? Opening balance of machinery: $840 000.Closing balance of machinery: $960 000
|
|
Testing was factor in program error or system failure
: Give an example from the book where insufficient testing was a factor in a program error or system failure. What does design for failure mean?
|
|
Prepare quarterly production budgets for each quarter
: Crane Company produces and sells automobile batteries, the heavy-duty HUI-240. Prepare quarterly production budgets for each quarter and in total for 2020
|