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If an available-for-sale investment is sold for which there are unrealized gains in accumulated other comprehensive income (AOCI), a reclassification adjustment affects other comprehensive income (OCI) in the period of sale by
A. reducing OCI for the amount of unrealized gains in AOCI.
B. increasing OCI for the amount of unrealized gains in AOCI.
C. no effect on OCI, as OCI only includes the effects of unrealized gains and losses.
D. no effect on OCI, as the realized gain is included in AOCI.
Prepare a fixed budget income statement for the planned level of sales and production. Prepare a fixed budget income statement for the actual level of sales and production.
Reiner Wholesale Merchandise had 20,000 shares of 5%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2003. These data apply to each of the independent situations below.
Which of the following would be treated as an extraordinary item?
You have two investment opportunities. One will have a 10% rate of return on an investment of $500; the other will have an 11% rate of return on a principal of $700.
The fair value of which of the following was determined using a Level 3 input? A building whose price per square foot is derived from prices in observed transactions involving similar buildings in similar locations.
If this expected level of production and sales occurs and plant expansion is not needed, how should this increase affect next year's total amounts for the following costs.
A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income?
What financial information are such clubs likely to collect and maintain? Assuming that the club keeps manual accounting records; would you consider such systems accounting information systems? Why or why not?
If the high-low method is used, what is the monthly total cost equation?
What is the amount of the loss on impairment that Beehive should recognize at June 30, 2006?
A physical inventory taken on December 31, 2010, resulted in an ending inventory of $700,000. Keen"s gross profit on sales has remained constant at 25% in recent years. Keen suspects some inventory may have been taken by a new employee. At Decembe..
An outside supplier has offered to produce the machines for Thomas for $700 a unit. What is the incremental effect on profit for this make or buy decision?
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