Estimate what is total income from investments

Assignment Help Financial Accounting
Reference no: EM132707908

Problem 1: Walker Inc. began operations on January 1, 20X5. The company reports its financial statements in accordance with IFRS. On December 31, 20X5, the company owned the following investments: Type Category Cost Fair value at year end Other 5% bonds Amortized cost $250,000 $249,000 Purchased at par on January 1, 20X5. Face value is $250,000. Shares fair value through profit or loss (FVPL) 85,000 93,000 $15,000 dividends declared in 20X5; $11,000 was received in the 20X5 fiscal year and the remaining $4,000 was received in the 20X6 fiscal year. Shares fair value through other comprehensive income (FVOCI) 45,000 32,000 What is the total income from investments that Walker reported in the calculation of net income before taxes in the statement of comprehensive income for the year ended December 31, 20X5?

Reference no: EM132707908

Questions Cloud

Describe the general context of wh and s in australia : Describe the general context of WH&S in Australia, including the perspectives of WH&S. Provide examples. The response must be typed.
Identify fundamental teaching and learning needs : Identify fundamental teaching and learning needs in the school and the specific problems of low-achieving students. Below are possible student groups
How many scissors should jan produce in each batch : How many scissors should Jan produce in each batch? Jan Gentry is the owner of a small company that produces electric scissors
Explain the impact of variable in determining the choice : Staffing approach choices are influenced by internal and external factors. Explain the impact of two (2) of these variable in determining the choice to be made.
Estimate what is total income from investments : Estimate What is total income from investments that Walker reported in the calculation of net income before taxes in the statement of comprehensive income
How do define the laissez-faire leadership style : Define the 'laissez-faire' leadership style. What advice would you offer to someone who wanted to improve his/her leadership ability?
Define the function of controlling or monitoring : Management functions can be categorised as: planning, organising, leading, staffing and controlling (Monitoring). Define the staffing function
What are the characteristics of eusociality : What are the characteristics of eusociality and how do they differ from facultative sociality? How does this affect the likelihood of altruistic behavior in the
Compute current ratio for goodyear tire and rubber company : Selected balance sheet and income statement data follow for Goodyear Tire & Rubber Company for the year ended December. Compute the current ratio

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare the consolidation worksheet entries

ACC2100 / ACF2100 Financial Accounting Assignment. Prepare the consolidation worksheet entries at 30 June 2016

  Make the consolidation worksheet entries at june

Prepare the acquisition analysis and consolidation worksheet entries at 1 July 2019. Prepare the consolidation worksheet entries at 30 June

  Journalize the withdrawal of posada under each assumptions

Journalize the withdrawal of Posada under each of the following assumptions. If Lamar's ownership interest is 20% of total partnership capital, what were Terrell's cash investment and the bonus to the new partner?

  Receipt of the balance due within the discount period

A credit sale is made on July 10 for $900, terms 1/15, n/30. On July 12, the purchaser returns $100 of goods for credit. Give the journal entry on July 19 to record the receipt of the balance due within the discount period.

  What amount should be reported as noncontrolling interest

During the remainder of the year, Ramirez generates revenues of $600,000 and expenses of $360,000 and paid no dividends. On a December 31 consolidated balance sheet, what amount should be reported as noncontrolling interest?

  Reports that the yield on a nine-month treasury bond

The Wall Street Journal reports that the yield on a nine-month Treasury bond is 2.3 percent, the yield on a three-year Treasury bond is 2.9 percent, and the yield on a 10-year Treasury bond is 4.3 percent. Although no liquidity premium is associated ..

  Find which groups of accounts increase with a credit

Find Which groups of accounts increase with a credit? liabilities, common stock, revenues. / common stock, revenues, expenses

  Popular board games as monopoly

Hasbro is one of the world's leading toy manufacturers and maker of such popular board games as Monopoly, Scrabble, and Clue, among others. Listed here are selected aggregate transactions from a recent year (dollars in millions).

  What would tell the investors about investing in the stock

Assuming CAPM is correct, what should be the price of the stock? what would you tell the investors about investing in the stock?

  Determine the upper limit of deviation for each of controls

Determine the upper limit of deviation for each of the controls. What impact do these results have on the type of opinion to be given on the client's internal controls?

  Identify decisions that managers like choi

Identify decisions that managers like Choi must make in applying depreciation methods.

  Computing bond issue price and preparing amortization table

Using the Excel PRICE function, compute the issue price assuming that the bonds' market rate is 7% per year compounded semiannually

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd