FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

19 1.00 On 1/1/2019 The fair value adjustment balance in book of Muscat company was Omr 850 ((debit On the Dec. 31, 2019 the fair

image text in transcribed
19 1.00 On 1/1/2019 The fair value adjustment balance in book of Muscat company was Omr 850 ((debit On the Dec. 31, 2019 the fair values of securities was RO 110900 (cost of securities (108250 Which of the following the adjusting entries is required at ?December 31, 2019 a. Unrealized Holding Loss 1800 Fair Value Adjustment 1800 b. Fair Value Adjustment 1800 Unrealized Holding Gain 1800 c. The correct answer not available d. Fair Value Adjustment 2650 Unrealized Holding Loss 2650 e. Fair Value Adjustment 3500 Unrealized Holding Gain 3500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Aat Management Accounting Budgeting

Aat Management Accounting Budgeting

Authors: BPP Learning Media

1st Edition

1509718400, 978-1509718405

More Books

Students also viewed these Accounting questions

Question

★★★★★
Given the following data for a two-way ANOVA, identify the sets of null and alternative hypotheses, then use the 0.05 level in testing each null hypothesis. (Use data file XR12073.) Factor B 2 1...

Answered: 1 week ago

Question

★★★★★
[The following information applies to the questions displayed below.] Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2021 are as...

Answered: 1 week ago

Question

★★★★★
4.29 A Card Game Three students are playing a card game. They decide to choose the first person to play by each selecting a card from the 52-card deck and looking for the highest card in value and...

Answered: 1 week ago

Question

★★★★★
The Rehe Company sells its razors at $3 per unit. The company uses a first-in, first-out actual costing system. A fixed manufacturing cost rate is computed at the end of each year by dividing the...

Answered: 1 week ago

Question

★★★★★
19 1.00 On 1/1/2019 The fair value adjustment balance in book of Muscat company was Omr 850 ((debit On the Dec. 31, 2019 the fair values of securities was RO 110900 (cost of securities (108250 Which...

Answered: 1 week ago

Question

★★★★★
16-52 Sales Volume, Sales Quantity, and Sales Mix Variances Margot's Ice Cream operates several stores in a major metropolitan city and its suburbs. Its budget and operating data for the current year...

Answered: 1 week ago

Question

★★★★★
In this assignment, Tim Horton's has asked you and your team to do some research and introduce three new snacks. 1. Read the questions carefully. 2. What concepts can you draw from the textbook to...

Answered: 1 week ago

Question

★★★★★
you will be introduced with the Dynamic Host Control Protocol (DHCP) service available on Cisco routers. You are then required to design and setup a small enterprise network by putting together the...

Answered: 1 week ago

Question

★★★★★
1- Please look over the last problem for the week. Duffy Corporation has prepared the following sales budget: Month Cash Sales Credit Sales May $16,000 $68,000 June 20,000 80,000 July 18,000 74,000...

Answered: 1 week ago

Question

★★★★★
You are assigned the role of security manager. The Director of Operations, thinks this is a good opportunity to train all the facilities management staff in key elements of security. Recommending a...

Answered: 1 week ago

Question

★★★★★
Provide an outline of the steps for the change management and configuration management processes of the new server as well as the website that needs to be updated and hosted. This information should...

Answered: 1 week ago

Question

★★★★★
(Appendices) Describe the difference between F.O.B. shipping point and F.O.B. destination. LO56

Answered: 1 week ago

Question

★★★★★
(Appendices) INTERNAL CONTROL FOR SALES. Yancys Hardware has three stores. Each store manager is paid a salary plus a bonus on the sales made by his or her store. On January 5, 19x6, Bill Slick,...

Answered: 1 week ago

Question

★★★★★
(Appendices) ETHICS AND INVENTORIES. Mary Cravens is an accountant for City Appliance Corporation. One of Marys responsibilities is developing the ending inventory amount for the calculation of cost...

Answered: 1 week ago

Previous Question Next Question