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Ivanhoe Corporation has the following investment which was held throughout 2018-2019: Cost Fair Value 12/31/18 12/31/19 $1110000 $ Equity investment $820000 What amount of gain
Ivanhoe Corporation has the following investment which was held throughout 2018-2019: Cost Fair Value 12/31/18 12/31/19 $1110000 $ Equity investment $820000 What amount of gain or loss would Ivanhoe Corporation report in its income statement for the year ended December 31, 2019 related to its investment, if the fair value method of accounting was used? O $70000 loss. $70000 gain. $290000 gain. O $220000 gain. Sunland Construction enters into a contract with a customer to build a warehouse for $1010000 on March 30, 2018 with a performance bonus of $40000 if the building is completed by July 31, 2018. The bonus is reduced by $8000 each week that completion is delayed. Sunland commonly includes these completion bonuses in its contracts and, based on prior experience, estimates the following completion outcomes: Completed by July 31, 2018 August 7, 2018 August 14, 2018 August 21, 2018 Probability 70% 20% 5% 5% Using the expected value approach, the transaction price for this transaction is O $735400 O $1010000 $1046400 O $743400
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