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Sever21 [200]
3 years ago
14

On January 1, 2021, Everglade Company purchased the following debt securities and properly accounted for them as securities avai

lable-for-sale: Security Cost Fair Value, 12/31/2021 ABC $ 40,000 $ 55,000 DEF 72,000 65,000 XYZ 16,000 20,000 All declines in value are considered temporary. What amount should the Everglade Company report relative to these securities in its 2021 statement of other comprehensive income
Business
1 answer:
hammer [34]3 years ago
4 0

Answer:

Unrealized gain = $12,000

Explanation:

Security    Cost A     Fair value B    Unrealized amount (B-A)

ABC          $40,000    $55,000                 $15,000

DEF           $72,000    $65,000                -$7,000

XYZ           $16,000     $20,000                 <u>$4,000</u>

                                                        Total    <u>$12,000</u>

So, the unrealized gain to be recorded is $12,000

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Answer:

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Explanation:

Insurance industry’s ACV is define as "the cost to replace with new property of like kind and quality, less depreciation. Courts have varied in their rulings as to whether or not depreciation includes obsolescence (loss of usefulness as a result of outmoded design, construction, etc.)."

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<u>Explanation:</u>

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From the question, there'll be negative sales mix variance and this will bring about a reduction in the revenue of the company as the budgeted sales will be lesser than actual sales. Therefore, Profit also reduces.

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2 years ago
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