<span>Select the Group By function. This makes it so that records of the same group are placed onto a single record with a column that is added and holds a nested table of the remaining columns. This function also returns a table with records grouped together based on the values in one or more columns.</span>
Answer:
1. Record the adjusted for Dec 31 2021
Dr Unrealized holding loss—OCI 26,000
Cr Fair value adjustment 26,000
2.
No amounts would be reported in the income statement at December 31, 2021 .
Amount $ 0
Explanation:
1.
Fair-value adjustment of $0 to ($26,000):
Fair Value Adjustment
Balance on 1/1/2021 $0
± Adjustment needed to update fair value?
Balance needed on 12/31/2021 ($21,000 − $47,000) = ($26,000)
Fair-Value Adjustment
1/1/2021 $0
Change needed $26,000
12/31/2021 $26,000
2.No amounts would be reported in the income statement at December 31, 2021 because the accumulated net holding gains and losses are reported as a component of shareholders' equity while changes in the balance are reported as other comprehensive income in the statement of comprehensive income rather than as part of earnings.
Answer:
a. $8.0 million; $1.22 million
Explanation:
The computation is shown below:
As we know that
Basic earnings power = EBIT ÷ total assets
So,
EBIT = Basic earnings power × total assets
= 0.20 × 40 million
= $8 million
Now
Times interest earned = EBIT ÷ interest expense
So,
Interest expense = EBIT ÷ Times interest earned
= $8 million ÷ 6.55
= $1.22 million
The answer is Action plan
(_Please give it the Brainiest answer_)
Answer:
the true cash balance as on June 30 is $79,039
Explanation:
The computation of the true cash balance as on June 30 is given below:
Unadjusted Balance as Per Bank Statement on Jun 30 $81,500
Add: Deposit in Transit Jun $3,150
Less: Outstanding Check Jun30 $(5,611)
True Cash Balance As on Jun 30 $79,039
hence, the true cash balance as on June 30 is $79,039
