Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer both the questions thank you Intercompany comparisons are useful for understanding a company's O a. competitive position. O b. ability to repay debt.
please answer both the questions thank you
Intercompany comparisons are useful for understanding a company's O a. competitive position. O b. ability to repay debt. Oc changes in financial relationships. Od short-term goals. Trubber Ltd. purchased 1,000 common shares of Jack Co. on September 1 for $13 per share. At December 31, Trubber's year end, Jack's shares are selling for $16 and Jack reported net income of $120,000. Assuming Trubber accounts for the investment using FVTPL, the adjust to the investment account at year end would be a. debit to FVTPL Investments - JackCo. for $1,000. O b. debit to FVTPL Investments - Jack Co. for $3,000. Occredit to FVTPL Investments - Jack Co. for $1,000. Od credit to FVTPL Investments - Jack Co. for $3,000 Step by Step Solution
There are 3 Steps involved in it
Step: 1
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