Details of this Paper

Accounting- Investment

Description

solution


Question

Question 1;The following are available-for-trading securities being held by Aladdin Company. The amount are in $1,000s.;End of fiscal year 2012;End of fiscal year 2011;Cost;FMV;Cost;FMV;Stock in Alfa Company;$900;$1,400;$900;$1,200;Stock in Beta Company;$900;$1,100;$900;$800;Stock in Charlie Company;$1,000;$700;$1,100;$1,000;Stock in Delta Company;$1,000;$700;$1,100;$1,500;$3,800;$3,900;$4,000;$4,500;A) How much did Aladdin Company report on their 2011 balance sheet to reflect the above securities?;B) How much did Aladdin Company report on their 2012 balance sheet to reflect the above securities?;C) How much did they report as unrealized gain or loss in 2012 to reflect the above securities?;Question 2;Assume the above securities are classified as trading securities.;A) Determine the amount of unrealized gain or loss to be recognized in 2011.;B) Determine the amount of unrealized gain or loss to be recognized in 2012.;C) Determine the amount to report for these investments on the end of the year 2011 and 2012 balance sheets.

 

Paper#80576 | Written in 18-Jul-2015

Price : $22
SiteLock