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zhannawk [14.2K]
3 years ago
14

Smith buys and sells securities. On December 15, 2018, Smith purchased $548,000 of Jones shares and elected the fair value optio

n to account for the Jones investment. As of December 31, 2018, the Jones shares had a fair value of $594,000. In the 2018 financial statements, Smith will report (ignore taxes):
Business
1 answer:
IrinaK [193]3 years ago
3 0

Answer:

Investment income of $46,000 in its income statement

Explanation:

Calculation for the amount that Smith will report in the 2018 financial statements,

Investment income =Fair value of $594,000-Purchased $548,000

Investment income =$46,000

Therefore Smith will report investment income of $46000 in its 2018 financial statements,

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6 0
1 year ago
Suppose a new car company sought to enter the rental car market, and Enterprise, Avis and Hertz responded by offering rentals ve
Anni [7]

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2 years ago
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Artemon [7]
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2 years ago
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Answer:

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The purpose behind these restrictions may derive from the need to preserve the availability of products even through skills shortages, and to further delay inflation, or, instead, to help ensure a guaranteed minimum income as well for manufacturers of such products or to seek to obtain a decent living wage.

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3 years ago
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ludmilkaskok [199]

Answer:

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