All categories

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.

Learn more about holding gain:

brainly.com/question/16629295

#SPJ4

You might be interested in

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a h

goldfiish [28.3K]

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday): TRUE

<h3>What are tax returns?</h3>

A tax return is a form or form that is filed with a tax authority and discloses income, expenses, and other relevant tax information.
Tax returns enable taxpayers to assess their tax liability, plan their tax payments, and receive refunds for overpayments.
In most nations, an individual or corporation having a reportable income, such as wages, interest, dividends, capital gains, or other profits, must file an annual tax return.
For example, if April 15th comes on a Saturday, the deadline for individual tax returns is April 17th (assuming it is not a holiday).

Therefore, the statement "if April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday)" is TRUE.

Know more about tax returns here:

brainly.com/question/4210849

#SPJ4

Complete question:

If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday, April 17th (assuming it is not a holiday). TRUE or FALSE

4 0

2 years ago

Jessica is required to follow a forty-hour work schedule from 9:00 in the morning and ends at 5:00 each day, every week. However

HACTEHA [7]

Answer: Variable work schedule

Explanation:

Variable work schedule is a work schedule that is not fixed. Variable work schedule is a way through which the employees cover their work schedule in cases whereby they don't come to work for certain days.

In the question, Jessica is expected to work for forty-hours every week and her work schedule is from 9:00a.m to 5:00p.m. If she takes a day off, she has to make up for the day used by working extra hours. This is a variable work schedule.

7 0

3 years ago

A large farming cooperative that focuses on the production of fruits and vegetables uses a business that sells the farmers' prod

stellarik [79]

Answer:

trading company.

Explanation:

A trading company is the type of business that trades in different line of products and services, and sells to consumers, business, governments, etc. They purchase a particular range of product stock it and delivers to customers. They also cover operations and procedures that comes with import and exports, they can buy product from different countries and sell them in another country. This depends on their distribution network.

3 0

3 years ago

Read 2 more answers

Bank 1 lends funds at a nominal rate of 8% with payments to be made semiannually. Bank 2 requires payments to be made quarterly.

torisob [31]

Answer: 7.922%

Explanation:

Bank 1 lends at nominal rate of 8% and payments made is semiannually,

So,

Semiannual rate of bank 1 = 4%

Effective annual rate of Bank 1:

$EAR=(1+half\ yearly\ rate)^{2}-1$

$EAR=(1+0.04)^{2}-1$

= 8.16%

If Bank 2 wants to maintain the same level of EAR at quarterly compounding:

$(1+quarterly\ rate)^{4} =EAR+1$

$(1+quarterly\ rate)^{4} =8.16\ percent+1$

$(1+quarterly\ rate)^{4} =1.0816$

$(1+quarterly\ rate) =(1.0816)^{\frac{1}{4} }$

$(1+quarterly\ rate) =1.01980390271$

Quarterly rate = 1.01980390271 - 1

= 1.980390%

Nominal annual rate for Bank 2 = Quarterly rate × 4

= 1.980390% × 4

= 7.9215% or 7.922%

5 0

4 years ago

If our fixed expenses are $20,000, and sales are $550,000, and our unit selling price is $55, and our unit variable expense is $

natka813 [3]

Profit = Sales - Expenses
Expenses = Fixed + Variable 
No. of units sold = $550,000 / 55 = 10,000 
Variable expenses = $44 x 10,000 = $440,000 
Expenses = 20,000 + 440,000 = $ 460,000 
So, profit = 550,000 - 460,000 = $ 90,000.

4 0

3 years ago