D<span>:determine your own working hours.
looks like the only logical one.</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:
Correct option is (d)
Explanation:
An account is termed uncollectible if they are not expected to be paid. There are two methods to write off these accounts:
1. Direct write off method: In this, the account recognized at uncollectible is directly charged to profit and loss account as an expense.
2. Allowance method: Under this method, a provision for doubtful debt is created where anticipated bad debts are charged. When an account needs to be written off, doubtful debt is debited and accounts receivables are credited.
They make around $40,000.
Hope this helps !
Photon
Answer:
b. continue to produce a quantity such that marginal revenue equals marginal cost.
