Question
On its December 31, 2010 balance sheet, Calhoun Company reported a 10,000 debit balance in its Securities FV Allowance - FVTOCI account (pro-asset). There was
On its December 31, 2010 balance sheet, Calhoun Company reported a 10,000 debit balance in its Securities FV Allowance - FVTOCI account (pro-asset). There was no change in 2011 in the composition of Calhoun's FVTOCI investments held. The following information pertains to that portfolio:
Security Cost FV - 12/31/11
X 125,000 160,000
Y 100,000 95,000
Z 175,000 125,000
The amount loss reported as a component of comprehensive income for the year ending December 31, 2011 is: A. 30,000. B. 20,000. C. 10,000. D. 0.
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Management Accounting A Business Planning Approach
Authors: Noah P. Barsky, Jr. Anthony H. Catanach
2nd Edition
1516506286, 978-1516506286
