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lianna [129]
4 years ago
15

Adams Industries holds 42,000 shares of FedEx common stock, which is not a large enough ownership interest to allow Adams to exe

rcise significant influence over FedEx. On December 31, 2018, and December 31, 2019, the market value of the stock is $95 and $105 per share, respectively. What is the appropriate reporting category for this investment and at what amount will it be reported in the 2019 balance sheet?
Business
1 answer:
olga2289 [7]4 years ago
5 0

Answer:

investment in FedEx = 4410000

Unrealized holding gain = 420000

Explanation:

given data

FedEx common stock = 42,000 shares

market value = $95

market value = $105

to find out

what amount will it be reported in the 2019 balance sheet

solution

we know that It is coming under available for sale security since the shares hold is less than majority of outstanding shares

and here

investment in FedEx =42,000  × 105

investment in FedEx = 4410000

and

Unrealized holding gain is = ( 105 - 95 ) × 42000

Unrealized holding gain = 420000

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