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irga5000 [103]
3 years ago
10

Valet Corporation began operations in 2018. An analysis of Valet's debt securities portfolio acquired in 2018 shows the followin

g totals at December 31, 2018 for trading and available-for-sale debt securities:Trading Securities...Available-for-Sale SecuritiesAggregate cost $180,000...$220,000Aggregate fair value 160,000...190,000What amount should Valet report in its 2018 income statement for unrealized holding loss?1. $20,000.2. $30,000.3. $50,000.4. $10,000
Business
1 answer:
s2008m [1.1K]3 years ago
5 0

Answer:

1. $20,000.

Explanation:

unrealized holding loss  = Aggregate cost - Aggregate fair value

                                       = 180,000 - 160,000

                                       = ($20,000) Loss

Therefore, The amount that Valet should report in its 2018 income statement for unrealized holding loss is $20,000.

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Ruben Company purchased $100,000 of Evans Company bonds at 100 plus $1,500 in accrued interest. The bond interest rate is 8% and
Damm [24]

Answer:

c. debit Investment-Evans Company Bonds, $100,000, and Interest Receivable $1,500; credit Cash $101,500

Explanation:

c. debit Investment-Evans Company Bonds, $100,000, and Interest Receivable $1,500; credit Cash $101,500

The interest is due on bonds of $ 100,00 so it is added to the total amount.

The other choices are incorrect as A does not account for interest due.

B does not indicate the amount of interest separately. D is wrong as interest is again deducted from the total of bonds also they are credited it is receivable not payable

3 0
3 years ago
Total interest paid on a 30-year straight note was $230,000 during the term of the loan. The annual interest rate was 6.6%. What
dsp73

Answer:

$116,161.616

Explanation:

Given that,

Total interest paid = $230,000

Time period = 30 year

Annual interest rate = 6.6%

Total interest on loan = Loan amount × Interest rate × Time period

$230,000 = Loan amount × 6.6% × 30 years

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=\frac{230,000}{0.066\times 30}

=\frac{230,000}{1.98}

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Therefore, the loan amount is $116,161.616.

3 0
3 years ago
Which of the following statements is correct with respect to a limited partnership?
Viefleur [7K]

Answer: option D

Explanation: A Limited liability partnership is an ownership style which exhibits characteristics of both partnership and corporations. This was implemented for the benefit of business entities and for the ease of owners.

a. In a limited liability a limited partner will never be personally liable for the debts.

b. A general partner can be a limited partner  as long as there are two legal partners.

c. A general partner cannot be a secured creditor as he will always have unlimited liability.

d. A Limited liability partnership is the form of partnership in which some or all of the partners have limited liability.

5 0
3 years ago
When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable?
Alex17521 [72]
When a qualified plan starts making payments to its recipient the gains are taxable. Gains are the profit/return that are made from an investment. A gain can be something you make from a sale or or inheritance. Gains are typically taxed in a higher tax bracket as well. 
4 0
3 years ago
Are there any special fees or interest rates, or both for Chash Advances and Balance Transfers?Explain.​
jek_recluse [69]

Transfers Transfer payments.

Specialization Limiting production to fewer goods and services than consumed, perhaps those whose production entails lower opportunity cost.

3 0
3 years ago
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