10. What amount would be reported as accumulated other comprehensive income(AOCI) related to price changes for its investments on Instrument Corporation's balance sheet an December 31, 2014? A) $80,000 gain. B) $120,000 gain C) $40,000 gain. D) $240,000 gain. E) None of the above 11. What amount of gain or loss would Instrument Corporation report in its other comprehensive income(OCID for the year ended December 31, 2015 related to its investments? A) $40,000 gain. B) $40,000 loss. C) $280,000 gain. D) $80,000 gain. E) None of the above 12. Valet Corporation began operations in 2015. An analysis of Valet's debt securities portfolio acquired in 2015 shows the following totals at December 31, 2015 for trading and available-for-sale securities: Trading Available-for-Sale Securities $110,000 95,000 Aggregate amortized cost $90,000 Aggregate fair value 80,000 What amount should Valet report in its 2015 other comprehensive income (OCI) for unrealized holding loss? A) $25,000. B) $5,000. C) $15,000. D) $10,000. E) None of the above 13. On January 1, 2008, Hernandez Corporation issued $9,000,000 of 10% ten-year bonds at 103. Hernandez has recorded amortization using the straight-line method On December 31, 2014 (7 years after issue), when the fair value of the bonds was 96, Hernandez repurchased $2,000,000 of the bonds in the open market at 96. Hernandez has recorded interest and amortization for 2014. Hernandez should report this reacquisition (buyback)as A) a loss of $98,000 B) a gain of $98,000 C) a loss of $122,000 D) a gain of $147,000. E) None of the above 10. What amount would be reported as accumulated other comprehensive income(AOCI) related to price changes for its investments on Instrument Corporation's balance sheet an December 31, 2014? A) $80,000 gain. B) $120,000 gain C) $40,000 gain. D) $240,000 gain. E) None of the above 11. What amount of gain or loss would Instrument Corporation report in its other comprehensive income(OCID for the year ended December 31, 2015 related to its investments? A) $40,000 gain. B) $40,000 loss. C) $280,000 gain. D) $80,000 gain. E) None of the above 12. Valet Corporation began operations in 2015. An analysis of Valet's debt securities portfolio acquired in 2015 shows the following totals at December 31, 2015 for trading and available-for-sale securities: Trading Available-for-Sale Securities $110,000 95,000 Aggregate amortized cost $90,000 Aggregate fair value 80,000 What amount should Valet report in its 2015 other comprehensive income (OCI) for unrealized holding loss? A) $25,000. B) $5,000. C) $15,000. D) $10,000. E) None of the above 13. On January 1, 2008, Hernandez Corporation issued $9,000,000 of 10% ten-year bonds at 103. Hernandez has recorded amortization using the straight-line method On December 31, 2014 (7 years after issue), when the fair value of the bonds was 96, Hernandez repurchased $2,000,000 of the bonds in the open market at 96. Hernandez has recorded interest and amortization for 2014. Hernandez should report this reacquisition (buyback)as A) a loss of $98,000 B) a gain of $98,000 C) a loss of $122,000 D) a gain of $147,000. E) None of the above
