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1 year ago

What total unrealized holding gain would beresford report in its 2021 income statement relative to its investments in bonds?

1 answer:

8 0

Total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds is $36,600.

Unrealized holding gains are increases in the value of assets that a company or individual continues to hold.

This gain has not yet been reported on the entity's income statement as a realized gain.

The gain is considered realized once the asset is sold.

Assets are frequently held even after a gain in value has occurred, either because the owner expects another gain or because the owner does not want to pay taxes on the gain.

Therefore, total unrealized holding gain is the difference between the fair value of trading securities on 12/31/2021 and at 12/31/2020.

For the figures used refer to the attached image.

total unrealized holding gain = (76000 - 65000) + (98100 - 67000) + (58500 - 64000)

= 11000 + 31100 - 5500

= $36,600

Hence, the correct answer is $36,600.

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Mandesa, Inc. has current liabilities of $9,500,000, current ratio of 2.0 times, inventory turnover of 12 times, average collect

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Answer:

$5,569,634

Explanation:

Current ratio = current assets = 2× $9,500,000= $19,000,000

Inventory turnover = 12 times = $65,000,000÷ 12= $ 5,416,667

Average collection period (APC) = 45 days = account receivable × 365 days

=> Account receivable = (45 × $65,000,000 )÷ 365 days = $8,013,699

=> cash and marketable securities =$ 19,000,000 - $5,416,667- $8,013,699 = $5,569,634

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