Separate component of stockholders equity, Accounting Basics

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Separate component of stockholders equity

Richman Co. purchased $300,000 of 8%, 5 year bonds from Carlin, Inc. on January 1, 2010, with interest payable on July 1 and January 1. The bonds sold for $312, 474 at an effective interest rate of 7%. Using the effective interest method, Richman Co. decreased the Available-for-Sale Securities account for the Carlin, Inc. bonds on July 1, 2010 and December 31, 2010 by the amortized premiums of $1,062 and $1,098 respectively.

At December 31,2010 the fair value of the Carlin, Inc. bonds was $318,000. What should Richman Co. report as other comprehensive income and as a separate component of stockholders' equity?

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Accounting Basics: Separate component of stockholders equity

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At December 31,2010 the fair value of the Carlin, Inc. bonds was $318,000. What should Richman Co. report as other comprehensive income and as a separate component of stockholders' equity?

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Accounting Basics: Separate component of stockholders equity

Reference No:- TGS081482

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Recent Questions Asked Accounting Basics

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Accounting Basics: Separate component of stockholders equity

Reference No:- TGS081482

Recent Questions Asked Accounting Basics

Q : E-p as a result of the redemption

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Q : Calculating return on investment-residual income

Q : Tax return show gross income

Q : Separate component of stockholders equity

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