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Assume a U.S. company makes a credit sale to a foreign customer that is required to make payment in its foreign currency.
For each account in the entry for part 1, explain how it is reported in financial statements.
In accounting for investments in equity securities, when should the equity method be used?
For investments in available-for-sale securities, how are unrealized (holding) gains and losses reported?
Write the formula to separate the return on total assets into its two basic components.
On a balance sheet, what valuation must be reported for short-term investments in trading securities?
What amount of these unrealized gains and unrealized losses, if any, are reported in its 2008 income statement? Explain.
Prepare the December 31, 2011, year-end adjusting entry for the trading securities' portfolio.
Prepare Berroa's December 31, 2011, adjusting entry to reflect any necessary fair value adjustment for these investments.
Prepare a journal entry dated December 31, 2011, to record the fair value adjustment of the long-term investments in available-for-sale securities.
Purchased 30,000 shares of Bushtex Co. common stock for $204,000 cash plus a broker's fee of $3,480 cash.
The terms of the sale required Lopez to pay 800,000 pesos on February 10, 2012. Jett prepares quarterly financial statements on March 31, June 30.
If the €6 million net unrealized losses are not reported in the income statement, in which statement are they reported, if any? Explain.
Compute the foreign exchange gain or loss to be reported on Roundtree's 2011 income statement.
Prepare journal entries to record these short-term investment activities for the years shown.
Prepare a table to compare the year-end cost and fair values of the short-term investments in available-for-sale securities.
Prepare journal entries to record these transactions and events and any year-end fair value adjustments to the portfolio of long-term available-for-sale .
What amount of gains or losses on transactions relating to long-term investments in available-for-sale securities should Capollo report on its December.
Compute the net increase or decrease in Bengal's equity from January 5, 2011, through January 8, 2013, resulting from its investment in Bloch.
What actions might Datamix consider to reduce its risk of foreign exchange gains or losses?
Prepare journal entries to record the April purchases of trading securities by Business Solutions.
What criteria must Wecker use to classify the securities as held-to-maturity or available-for-sale?
Draft a memorandum to Terrio explaining why the $6,000 loss on sale of Blackhawk stock is correctly reported.
Identify information necessary to complete the end-of-period adjustment for this investment.
Compare Nokia's dividends per share with its EPS. Is Nokia paying out a large or small amount of its income as dividends?