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Makovka662 [10]
3 years ago
9

Bloom now believes it is more likely than not that it will have to sell the Taylor bonds before the bonds have a chance to recov

er their fair value. Of the $400,000 decline in fair value, Bloom attributes $250,000 to credit losses, and $150,000 to noncredit losses. Record the entry to reclassify the unrealized loss recorded in the year 2020.
Business
1 answer:
kow [346]3 years ago
6 0

Answer:

Other than Temporary Impairment loss (Dr.) $400,000

Discount on bond investment (Cr.) $400,000

Fair value Adjustment (Dr.) $150,000

Net unrealized holding gain/losses - OCI (Cr.) $150,000

Explanation:

To record impairment loss on bond we debit the Other than temporary impairment loss account debit and discount on bond investment as credit by $400,000 which is the decline in fair value of Taylor bond.

To record the impairment loss recognized due to fair value method we debit the Fair value adjustment account as debit and Unrealized holding gains/losses as credit by $150,000.

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Which agency can request that more money be printed?
Lubov Fominskaja [6]

Answer:

c

Explanation:

Watch the netflix show "The Money Heist" they print money out is the treasury in spain.

And i took the test for A.p.e.x

4 0
3 years ago
Departmental contribution to overhead is calculated as the amount of sales of the department less: Direct and indirect costs. Pr
GuDViN [60]

Answer:

Direct expenses.

Explanation:

The departmental contribution is determined by deducting the direct expense from the amount of sales  

In mathematically,

The following formula should be used  

Departmental contribution = Department revenues - direct expense

Here The expenses to be - rent, utilities, taxes, insurance, etc

ANd, It is arrive after paying off the direct expenses that related to the overhead.

4 0
3 years ago
Two brothers who were certified public accountants worked together at a large accounting firm practicing their chosen profession
zysi [14]

Answer: Yes. The younger brother will prevail in his claim since he has performed under a valid contract.

Explanation:

Based on the information given, the younger brother will prevail in his claim because he has performed under a valid contract.

Based on the information given, he entered into a valid contract with his elder brother, accepted the offer and complied with its terms from that day forward. Since he performed the contract, he's entitled to the $15000 when after his brother's death.

3 0
3 years ago
To make your business messages more effective, revise for vigor and directness. You can strengthen your writing by unburying ver
algol [13]

Answer:

The correct answer is letter "D": Give consideration to the economic climate.

Explanation:

Buried verbs express actions using verb redundantly. Most of the time they are composed of two verbs unnecessarily jointed when only one of them could give meaning to the segment. The two words jointed become a noun. Buried verbs make sentences wordy and do not help in improving the clarity of the message. Thus, the sentence:

  • <u><em>Give consideration</em></u><em> to the economic climate. </em>

Should only be:

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7 0
3 years ago
A company acquires a subsidiary and will prepare consolidated financial statements for external reporting purposes. For internal
NemiM [27]

Answer:

It is a relatively easy method to apply.

Explanation:

When accounting for a subsidiary, equity method is followed, whenever the shareholding percentage is equal or more than 20%.

But here, the parent company uses, initial value method for internal reporting.

Under initial value method the value of investment in subsidiary is recorded at cost, and then adjusted at year end at fair value, this clearly shows the gain or loss at each year end from such investment as per market norms.

There is no statutory requirement to follow such initial value method for internal reporting.

The correct reason therefore, is:

It is a relatively easy method to apply.

7 0
4 years ago
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