Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 04, 2020

Nano Berhad recorded total investments of RM12 million in its book. Out of total investments of RM12million, RM5 million was classified as investment held-fortrading. Explain

Nano Berhad recorded total investments of RM12 million in its book. Out of total investments of RM12million, RM5 million was classified as investment held-fortrading.

Explain how to classify the investment of Nano Berhad as held for trading.

Step by Step Solution

★★★★★

3.44 Rating (167 Votes )

There are 3 Steps involved in it

Step: 1

Investment held for trading is classified under the category current assets in balance ... 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

Step: 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

Introduction to Governmental and Not for Profit Accounting

Authors: Martin Ives, Terry K. Patton, Suesan R. Patton

7th edition

9780132776073, 132776014, 978-0132776011

More Books

Students also viewed these Accounting questions

Question

★★★★★

Explain why trading investments are always reported as current assets and yet investments to earn interest may be reported as current or non-current assets.

Answered: 1 week ago

Question

★★★★★

Explain why a decrease in cash is classified as a cash inflow (source) and why an increase in cash is classified as a cash outflow (use) in preparing the statement of cash flows.

Answered: 1 week ago

Question

★★★★★

How does a company categorize land held for investment on its balance sheet?

Answered: 1 week ago

Question

★★★★★

Trade promotions refer to offers made to Group of answer choices channel members non-profit organizations businesses consumers Question 2 Consumer promotions refer to offers made to Group of answer...

Answered: 1 week ago

Question

★★★★★

Reformulate Exercise 11.2.33 for a mass-spring chain connected to both top and bottom supports. Do the same conclusions hold?

Answered: 1 week ago

Question

★★★★★

2. In your experience, which of the four misconceptions most frequently influences the way that school principals or other administrators view effective classroom management?

Answered: 1 week ago

Question

★★★★★

The current chapter reviewed several potential moderators of the job satisfactionjob performance relation. These moderators include a number of situational factors. What other factors not discussed...

Answered: 1 week ago

Question

★★★★★

A steel product is manufactured by starting with raw material ( carbon steel wire) and then processing it sequentially through five operations using machines A to E, respectively ( see table below)....

Answered: 1 week ago

Question

★★★★★

Explain how to do each and every step please Your answer is partially correct. Bramble, Inc. manufactures ergonomically designed computer furniture. Bramble uses a job order costing system. On...

Answered: 1 week ago

Question

★★★★★

B 9 50 01 02 03 04 05 06 107 108 109 110 111 112 113 114 115 116 117 40. Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to increases cash. 41. Based on...

Answered: 1 week ago

Question

★★★★★

On January 1, 2019 Safe Consulting Inc. (SCI) acquired heavy construction equipment for $1,010,000. SCI expects that the residual value of the equipment at the end of its 5-year life will be $200,000...

Answered: 1 week ago

Question

★★★★★

Can you discuss some aspect of the source that is interesting and why. Be sure to relate your post to some type of workplace hazard and/or method(s) for protecting employees from the hazard...

Answered: 1 week ago

Question

★★★★★

Use the following sections to write an essay on differentiated/decision- making theory in education a. Introduction b. Literature review c. Strengths and weakness d. Conclusion

Answered: 1 week ago

Question

★★★★★

Operating Leverage. Airlines offer an example of an industry in which the degree of operating leverage is fairly high. Why? Taking the public information of the last Annual Report published by an...

Answered: 1 week ago

Question

★★★★★

Quality control is an effective tool used to reduce cost by controlling factors that increase cost during operations. Locate an article in the scholarly journal or a news article that discusses the...

Answered: 1 week ago

Question

★★★★★

Choose a company currently operating in the UK (it does not have to be British in origin). Evaluate the following aspects of the company in question: Organisational Structure Organisational Culture...

Answered: 1 week ago

Question

★★★★★

Mazoon Company sells yachts. During the current year, 100 yachts were sold resulting in $420,000 of sales revenue, $120,000 of variable costs, and $180,000 of fixed costs. The number of yachts that...

Answered: 1 week ago

Question

★★★★★

Presented below are income statements prepared on a LIFO and FIFO basis for Kenseth Company, which started operations on January 1, 2024. The company presently uses the LIFO method of pricing its...

Answered: 1 week ago

Question

★★★★★

The following budgetary events occurred in Marilyn County during calendar year 2013: 1. The legislature approved the following budget: Estimated Revenues Property taxes......... $ 1,000,000 Sales...

Answered: 1 week ago

Question

★★★★★

At the end of calendar year 2013, the following balances were found in the ledger of the Old Elias Library Fund. Prepare closing journal entries for these budgetary and financial accounts. Also,...

Answered: 1 week ago

Question

★★★★★

For a General Fund or a Special Revenue Fund, what does a credit balance in the fund balance account(s) at the end of the year signify? What does a debit balance signify?

Answered: 1 week ago

Question

★★★★★

How do corporations protect shareholders from liability? If you formed a small corporation, would you be able to avoid repaying a bank loan from your community bank if the corporation went bankrupt?...

Answered: 1 week ago

Question

★★★★★

Kevin and Bob have owned and operated SOA as a C corporation for a number of years. When they formed the entity, Kevin and Bob each contributed $100,000 to SOA. They each have a current basis of...

Answered: 1 week ago

Question

★★★★★

What are the common book-tax differences relating to accounting for capital gains and losses? Do these differences create favorable or unfavorable book-to-tax adjustments?

Answered: 1 week ago

Previous Question Next Question