Question
If a company has trading securities, it will report unrealized changes in their value a. directly in shareholders' equity. b. as part of income. c.
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If a company has trading securities, it will report unrealized changes in their value
a. directly in shareholders' equity.
b. as part of income.
c. only when sold.
d. on the income statement only if there is a loss.
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A $600,000 bond was retired at 96 when the carrying value of the bond was $570,000. The entry to record the retirement would include a
a. gain on bond redemption of $6,000.
b. gain on bond redemption of $30,000.
c. loss on bond redemption of $30,000.
d. loss on bond redemption of $6,000.
If a company has trading securities, it will report unrealized changes in their value
| a. | directly in shareholders' equity.
| |
| b. | as part of income.
| |
| c. | only when sold.
| |
| d. | on the income statement only if there is a loss.
|
A $600,000 bond was retired at 96 when the carrying value of the bond was $570,000. The entry to record the retirement would include a
| a. | gain on bond redemption of $6,000. | |
| b. | gain on bond redemption of $30,000.
| |
| c. | loss on bond redemption of $30,000.
| |
| d. | loss on bond redemption of $6,000.
|
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
18th edition
125969240X, 978-1259692406
