Read each scenario and pick the statement that matches it.

Trading securities are a.reported as unrealized gains or losses on the income statement b.reported at fair value in the balance

dedylja [7]

Answer:

c.reported at fair value on the balance sheet and as unrealized gains or losses on the income statement

Explanation:

The trading securities focuses on the securities which are traded to gain the profit through selling the securities which are based on the market values

So

any profit or losses could be come under the income statement

whereas

The fair values are to be reported on the balance sheet

hence, the correct option is c.

5 0

3 years ago

During the year, EcoWash Corporation has $ 310 comma 000 in revenues, $ 95 comma 000 in expenses, and $ 6 comma 000 in divide

fiasKO [112]

Answer:

$215,000

Explanation:

Given that,

EcoWash Corporation has:

Revenues = $310,000

Expenses = $95,000

dividend declarations and payments = $6,000

Hence, the net income is determined by subtracting expenses from the revenues.

Net income:

= Revenues - Expenses

= $310,000 - $95,000

= $215,000

Therefore, the EcoWash Corporation has a net income of $215,000 for the year.

8 0

3 years ago

Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 40,000 units

Lisa [10]

Answer:

Product L= $34

Product H= $34

Explanation:

Giving the following information:

Product H is expected to sell 40,000 units next year and Product L is expected to sell 8,000 units.

A unit of either product requires 0.4 direct labor-hours.

Estimated overhead= $1,632,000. R

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 1,632,000/(48,000*0.4)

Estimated manufacturing overhead rate= $85 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Product L= 85*0.4= $34

Product H= 85*0.4= $34

3 0

3 years ago

The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment of $500. The bad debts are estima

Elan Coil [88]

Answer:

Estimated balance of Doubtful Account after adjusting entry = $4,200

Explanation:

Given:

The credit balance of Doubtful Account = $500

Computation of estimated balance of Doubtful Account after adjusting entry:

Estimated balance of Doubtful Account after adjusting entry = 7% of $60,000

Estimated balance of Doubtful Account after adjusting entry = $4,200

After adjusting entry , Total amount credited in Allowance for Doubtful Accounts is $4,200

6 0

3 years ago

_____ is a customer perception that a product has a better relationship than its competitors between the cost and the benefits

Gekata [30.6K]

Answer:

Value is your answer. Have a great day & hope this helps you! :)

Explanation:

8 0

3 years ago