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Natasha2012 [34]
3 years ago
8

On January 1, Butte Company's valuation allowance for trading investments account has a debit balance of $23,200. On December 31

, the cost of the trading securities portfolio was $80,000. The fair value was $98,000. Which of the following would Butte report on the income statement for the current year?
Business
1 answer:
bulgar [2K]3 years ago
7 0

Answer:

The gain of $18000 would be reported in income statement

Explanation:

At each reporting date, the investment needs to be recorded at fair value to reflect current market prices and realities.

As a result,the fair value increase in investment of $18000 (fair value less costs) would be shown in income statement as unrealized gain on investment since the investment has not been disposed of.

Under IFRS for instance the gain would be shown under other comprehensive in order to emphasis its unrealized nature.

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Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and price fluctuations

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3 years ago
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6 0
2 years ago
The Laffer curve shows the relationship between tax rates and ____________ and depicts the benefits of cutting taxes when tax ra
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Answer: tax revenue

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Write down any four techniques that you can practice to become an effective listener.
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