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Evgesh-ka [11]
3 years ago
13

On October 12, 2006, Lowell Corporation invested $600,000 in short-term available-for-sale marketable securities. The market val

ue of this investment was $660,000 at December 31, 2006, but had slipped to $655,000 by December 31, 2007. 27. Refer to the above data. In financial statements prepared on December 31, 2006, Lowell Corporation reports: A) The asset Investments in Marketable Securities at $600,000, and a $60,000 Unrealized Holding Gain included in total stockholders' equity. B) The asset Investments in Marketable Securities at $660,000, and a $60,000 gain recognized in the income statement. C) The asset Investments in Marketable Securities at $600,000 with footnote disclosure of the market value of $660,000. D) The asset Investments in Marketable Securities at $660,000, and a $60,000 Unrealized Holding Gain included in total stockholders' equity.
Business
1 answer:
gavmur [86]3 years ago
6 0

Answer:

option D

Explanation:

In financial statements In balance sheet short term investment available for sale of securities should be reported on fair value of investment and unrealized gain or loss should be included in stockholder's equity.

so in this question 660,000 should be reported as asset investment in marketable securities and (660000-600000) = 60000 unrealized gain should be reported in stockholder's equity.

The asset Investments in Marketable Securities at $660,000, and a $60,000 Unrealized Holding Gain included in total stockholders' equity

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pantera1 [17]

Answer:

B. Continue to rise

Explanation:

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Therefore the correct option is B. continue to rise

3 0
3 years ago
The us of independent channel members in a channel of distribution allows manufacturers to ____
Kipish [7]
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3 years ago
Abigail is the owner of a tract of land, but Umberto owns the mineral and excavation rights to that land. Umberto commences exca
Andrej [43]

Answer:

A, absolutely liable for any collapse.

Explanation:

In the cause of excavation of mineral resources on the land Umberto has mineral and excavation rights for, the surface of the land collapses.  This makes Umberto liable for the collapse of the surface of the land and Abigail can have a case against him for destruction of property.

Cheers.

5 0
3 years ago
Read 2 more answers
What was real per capita GDP in 1933 measured in 2008 prices? (Use the data in the table below and a price index of 100/1400 to
Artist 52 [7]
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7 0
3 years ago
International trade has always played a role in the U.S. economy. Is this role increasing or decreasing (in terms of exports and
Arturiano [62]

Answer: Option (F)

Explanation:

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