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harina [27]
3 years ago
5

The amounts indicated pertain to Royal Fairmont’s trading debt investments, which were purchased on 1/1/21: Cost: $16,000 12/31/

21 Fair Value: $15,000 12/31/22 Fair Value: $11,000 The amount included in 2022 Comprehensive Income will be:
Business
1 answer:
quester [9]3 years ago
6 0

Answer:

loss of $5,000 on adjustment of trading debt investments

Explanation:

The comprehensive income statement records gains and losses on the trading debt investments.

By the end of 2022 the trading debt investments had fallen in value to $11,000 from  $15,000 representing a loss of $5,000 to be adjusted in the income statement.

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How does a fixed exchange rate set the value for a currency?
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On July 15, 2016, you convert 650,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month
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Answer:

The question is not complete:

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