Question
The following data pertains to Tyne Co.'s investments in marketable debt securities: Market value Cost 12/31/Year 2 12/31/Year 1 Trading $ 183,000 $ 201,000 $
The following data pertains to Tyne Co.'s investments in marketable debt securities:
| Market value | |||
| Cost | 12/31/Year 2 | 12/31/Year 1 | |
| Trading | $ 183,000 | $ 201,000 | $ 195,000 |
| Available-for-sale | 76,000 | 77,000 | 72,000 |
What amount should Tyne report as unrealized gain (loss) in its Year 2 income statement?
- A.
$18,000
- B.
$12,000
- C.
$6,000
- D.
$5,000
The following data pertains to Bayer Image Incs investments in marketable debt securities:
| Market value | |||
| Cost | 12/31/X2 | 12/31/X1 | |
| Trading | $ 61,000 | $ 69,000 | $ 63,000 |
What amount should Bayer report as security fair value allowance balance at 12/31X2 for the trading securities?
- A.
$6,000cr
- B.
$8,000dr
- C.
$8,000cr
- D.
$6,000dr
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The People Policies Audit
Authors: Maurice A. Phelps
1st Edition
1907766049, 978-1907766046
