User Account

All Pages

What total amount of gain or loss on its securities

Assignment Help Financial Accounting
Reference no: EM132420638

Show me how to caculate the following using this information. On December 31, 2007, Nance Co. purchased equity securities as trading securities. Pertinent data are as follows: Security for (a) cost is 132,000 with a fair value at 12/31/08 is $117.000; (b) cost is 168.000 with a fair value of 186,000; (c) cost is 288,000 with a fair value of 258,000.

On December 31, 2008, Nance transferred its investment in security C from trading to available-for-sale because Nance intends to retain security C as a long-term investment. What total amount of gain or loss on its securities should be included in Nance's income statement for the year ended December 31, 2008?

Reference no: EM132420638

Questions Cloud

Fair value of the noncontrolling interest : On that date, (1) the Small's equity equaled $150,000, (2) the acquisition-date fair values of Small's assets and liabilities equaled their carrying amounts
MITS5004 IT Security Assignment - Analysis of Security Tools : MITS5004 IT Security Assignment - Critical Analysis of Security Tools, Assessment Help and Solution, Victorian Institute of Technology, Australia
Explain why or how this cause aligns with your brand-maestro : How will you structure this campaign to achieve your results? In other words, how will your customer become involved with your brand and the charity to support
Construct and use a spread sheet application : Calculate and compare measures of central tendency and Design numerical analyses in response to given problem situations - Construct and use a spread sheet
What total amount of gain or loss on its securities : What total amount of gain or loss on its securities should be included in Nance's income statement for the year ended December 31, 2008?
Develop your distribution strategy for the product. : What retail outlets will sell your new product? How will you manage your supply chain? Develop your pricing and promotional strategy.
Do you agree with the arbitrator decision in this situation : Discussion Questions - Do you agree with arbitrator's decision in this situation? Is risk worth it in order to 'send a message' about acceptable social conduct
What must the coupon rate be on the bonds : At this price, the bonds yield 5.9 percent. What must the coupon rate be on the bonds?
Social Media Analysis for Understanding Customer Preferences : Social Media Analysis for Understanding Customer Preferences and Sentiments - Develop a machine learning-based model using the R libraries

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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