1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
aleksklad [387]
3 years ago
7

Pronghorn Corporation began operations on January 1, 2020 when $236,000 was invested by shareholders of the company. On March 1,

2020, Pronghorn purchased for cash $125,000 of debt securities that it classified as available-for-sale. During the year, the company received cash interest of $7,100 on these securities. In addition, the company has an unrealized holding loss on these securities of $13,500 net of tax. Determine the following amounts for 2020: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2020). (Enter negative amounts using either a negative sign preceding the number e.g. -15 or parentheses e.g. (15).)
Business
1 answer:
Over [174]3 years ago
3 0

Answer:

a. $7,100

b. -$6,400

c. -$13,500

d. -$13,500

Explanation:

The computation is shown below:-

a. Net income

Net income = Cash interest

= $7,100

b. Comprehensive Income = Net Income - unrealized holding loss

= $7,100 - $13,500

= -$6,400

c. Other Comprehensive Income = unrealized holding loss

= -$13,500

d. Accumulated other comprehensive income:

Ending Balance of other comprehensive income = Beginning Balance + During this year

= $0 + (-$13,500)

= -$13,500

You might be interested in
When the bond sells at par, the implicit €/$ exchange rate at maturity of a Euro/U.S. dollar dual currency bond that pays $651.2
Anna007 [38]

Answer:

€1.54/$1.00

Explanation:

When the bond sells at par, the implicit €/$ exchange rate pays €651.25 at maturity per €1000

651.25/1000= 1/x

Cross multiply

651.25x = 1000

x= 1000/651.25

x= 1.54

Hence the implicit exchange rate is €1.54/$1.00

4 0
3 years ago
Silway travels organizes tours to a number of cities in illinois. the manager of the company examines a spreadsheet which is an
Andrei [34K]

The answer to the blank space is data.

The contents of the spreadsheet are the annual record of airfares to different cities from Chicago. This is what we call data – which are facts or statistics collected together for reference or analysis. Since Silway Travels plans to use the annual record information to contrast airfares during peak and off-season, it is clear that the data in this case would be used for analysis.

6 0
3 years ago
What should the manager know about foodservice equipment​ safety?
Jet001 [13]
Your answer is B, <span>If approved by the NSF, it will have a mark to indicate that endorsement.</span>
4 0
4 years ago
Look at the map showing the European Union (EU) and its free-trade agreement (FTA) countries.
shepuryov [24]

The actual correct answer is: <u>The European Union's free-trade agreements include agreements with both developed and developing nations.</u>

8 0
3 years ago
Read 2 more answers
Assume that Speedboat Company has beginning finished goods inventory of $10,000; ending finished goods inventory of $150,000; go
gtnhenbr [62]

Answer:

$60,000

Explanation:

The movement in finished goods balance between the beginning and end of a period is due to the cost of goods sold and goods manufactured. This may be expressed mathematically as;

Opening balance + manufactured goods - cost of goods sold - other write-offs = closing balance.

where there are no other write-offs,

$10,000 + $200,000 - cost of goods sold = $150,000

Cost of goods sold = $10,000 + $200,000 - $150,000

= $60,000

7 0
4 years ago
Other questions:
  • Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 33,817 $ 40,739 $ 42,
    8·1 answer
  • Alpha Technology produces two products: a high end laptop under the label Excellent Laptops and an inexpensive desktop under the
    6·1 answer
  • After identifying the purpose of your message, you should select the most appropriate communication channel. When determining th
    6·1 answer
  • Tiptoe Shoes had annual revenues of $190,000, expenses of $106,200, and dividends of $20,000 during the current year. The retain
    10·2 answers
  • The selling price of houses would be most likely to decrease if there were first a decrease in which of the following? A. New-ho
    12·2 answers
  • Kilian Health Foods has 19 comma 000 shares of $ 3 par common stock​ outstanding, which were issued at $ 14 per share. Kilian al
    15·1 answer
  • Luke’s Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it
    11·1 answer
  • Countries establish internal economic zones in order to limit foreign investment. make solving disputes easier. have fewer econo
    15·2 answers
  • The Eks-Plore Company exports outdoor gear for firms on the east coast of the United States. The company identifies companies in
    11·1 answer
  • why is accurate "self-classification" of items and equipment involved in a research activity, crucial to export compliance?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!