Company acquired equity securities during the year 2018 and designated as fair value to other comprehensive income. An analysis of the investments on December 31, 2020 showed the following: Securities Cost Market A P 1,500,000 PI,400,000 B 2,200,000 2,000,000 C 3,000,000 2,900,000 D 3,800,000 3,600.000 Total 10,500,000 9,900,000 If the Company's income tax rate is 35%, what am
Company acquired equity securities during the year 2018 and designated as fair value to other comprehensive income. An analysis of the investments on December 31, 2020 showed the following: Securities Cost Market A P 1,500,000 PI,400,000 B 2,200,000 2,000,000 C 3,000,000 2,900,000 D 3,800,000 3,600.000 Total 10,500,000 9,900,000 If the Company's income tax rate is 35%, what am
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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Glenn Company acquired equity securities during the year 2018 and designated as fair value to other comprehensive income. An analysis of the investments on December 31, 2020 showed the following:
Securities Cost Market
A P 1,500,000 PI,400,000
B 2,200,000 2,000,000
C 3,000,000 2,900,000
D 3,800,000 3,600.000
Total 10,500,000 9,900,000
If the Company's income tax rate is 35%, what amount of unrealized loss should be reported in Glenn's December 31, 2020 shareholders' equity?
Securities Cost Market
A P 1,500,000 PI,400,000
B 2,200,000 2,000,000
C 3,000,000 2,900,000
D 3,800,000 3,600.000
Total 10,500,000 9,900,000
If the Company's income tax rate is 35%, what amount of unrealized loss should be reported in Glenn's December 31, 2020 shareholders' equity?
a. none
b. 200,000
c. 390,000
d. 600,000
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