FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

The following data pertains to Onyx Co.'s investments in marketable debt securities: Market value Cost 12/31/2019 12/31/2020 Trading 138 149 172 Available-for-sale 148 124 169

The following data pertains to Onyx Co.'s investments in marketable debt securities:

Market value

Cost

12/31/2019

12/31/2020

Trading

138

149

172

Available-for-sale

148

124

169

Note: The available-for-sale security is not deemed to be impaired.

These debt securities were owned throughout 2020. What amount should Onyx report as unrealized gain (loss) in its 2020 income statement?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image_2

Step: 3

blur-text-image_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

Intermediate Accounting
Intermediate Accounting

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

1st edition

978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302

More Books

Students explore these related Accounting questions

Question

Repeat Problem 8.42, retaining all quantities except that each reheater reheats the steam back to 600°C, that is, T9 = T11 = 600°C. The T-s diagram of an ideal Rankine power cycle with two...

Answered: 3 weeks ago

Question

Find an equation of the tangent line to the curve at the given point. y = (1 + 2x) 10 , (0, 1)

Answered: 3 weeks ago

Question

What degrees does the program offer?

Answered: 3 weeks ago

Question

Sunbird Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Sunbird Theatre Inc. has declared the following annual dividends over a six-year period: 2011, $20,000; 2012,...

Answered: 3 weeks ago

Question

Waterway Company is preparing its manufacturing overhead budget for 2022. Relevant data are as follows: 1. Units to be produced (by quarters): 10,400,12,000,15,700,18,000 2. Direct labour: 1.6 hours...

Answered: 3 weeks ago

Question

The question says, "Sipho's Electronics sells a basic unlocked smartphone for $125. Sipho's buys these phones for $75 each. Price elasticity at their current selling price is estimated at...

Answered: 3 weeks ago

Question

The following fact pattern applies to questions 1 and 2. Brigid entered into a contract with L. Marcus Marine ("LMM") to perform repairs and updates to her sailboat for $15,000. The work was to be...

Answered: 3 weeks ago

Question

An SLA manager compares the usage of a system against: Question 1Select one: a. A pay-per-use measurement repository b. An SLA monitor agent c. A quality-of-service measurement repository d. A...

Answered: 3 weeks ago

Question

an 1800 kg vehicle travelling at 60.0km/h smashes into a concrete barrier and stops in 0.420s what is the magnitude of the collision force on the vehicle

Answered: 3 weeks ago

Question

Flo's Deli is determining how to ensure that their current process of serving customers during lunch rush is adequate. Which of the following is an example of how the restaurant can monitor its...

Answered: 3 weeks ago

Question

2. Based on your research and practical experience, what are some of the most effective ways to ensure successful school-to-work transition?

Answered: 3 weeks ago

Question

3. Rachel plans on hiring recruiters to assist her in staffing these 50 positions. Knowing the company will require the recruiters to adhere to the concept of employer branding, describe what steps...

Answered: 3 weeks ago

Question

7.1 Define selection and discuss its strategic importance.

Answered: 3 weeks ago

Previous Question Next Question