Result of increase in fair value of investments

Reference no: EM13154527

On its December 31, 2007, balance sheet, Quinn Co. reported its investment in available-for-sale securities, which had cost $600,000, at fair value of $550,000. At December 31, 2008, the fair value of the securities was $585,000. What should Quinn report on its 2008 income statement as a result of the increase in fair value of the investments in 2008?

Reference no: EM13154527

Questions Cloud

Accounting treatement of the event : A customer of company ABC seems to be doubtful at balance sheet date.therefore company made the provision for the customer at the rate 5%.after the balance sheet date.customer paid 80% of the total amount.required:identify the type of event.2.what..

Explain the presence of a medium intensity band near : The presence of a carboxyl band near 1640 cm-1 and two bands near 3000 cm-1 is good evidence of an alcohol B) The presence of a sharp, medium intensity band near 2720 cm-1 and a strong carbonyl band near 1700 cm-1 is good evidence of an alcohol

Why do the people of kansas buy most of their tomatoes : Tomatoes grow well in Kansas. Why do the people of Kansas buy most of their tomatoes from Florida, Mexico, and California?

Organize the data into a frequency distribution : The Quick Change Oil Company has a number of outlets. The numbers of oil changes at the Oak Street outlet in the past 20 days are: Organize the data into a frequency distribution and include the relative frequency distribution.

Result of increase in fair value of investments : At December 31, 2008, the fair value of the securities was $585,000. What should Quinn report on its 2008 income statement as a result of the increase in fair value of the investments in 2008?

Gift tax consequences : In 2002, Gordon purchased real estate for $900,000 and listed title to the property as "Gordon and Fawn,joint tenants with right of surviorship." Gordon predeceases Fawn in 2009 when the real estate is worth $2.9 million. Gordon and Fawn are husba..

Straight-line method of amortization of bond discount : A corporation issues $100,000, 10%, 5-year bonds on January 1, 2007, for $95,800. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be ..

Follow poisson distribution with mean of tickets per day : Suppose the number of tickets written per day follows a Poisson distribution with a mean of 6.5 tickets per day. Interpret the value of the mean. The mean has no interpretation since 0.5 ticket can never be written.

Compute the equilibrium constant ke for the reaction : Calculate the equilibrium constant, Ke, for the reaction assuming the concentrations for reactants and products are the following

User Account

All Pages