User Account

All Pages

Show balance sheet presentation of investment-relate account

Assignment Help Accounting Basics
Reference no: EM132670687

At December 31, 2020, the available-for-sale debt portfolio for Concord, Inc. is as follows.

Security        Cost            Fair Value         Unrealized Gain (Loss)

A               $33,250       $28,500                $(4,750 )

B               23,750            26,600                   2,850

C                43,700             48,450                   4,750

Total           $100,700            $103,550               2,850

Previous fair value adjustment balance-Dr. 760

Fair value adjustment-Dr. $2,090

On January 20, 2021, Concord, Inc. sold security A for $28,690. The sale proceeds are net of brokerage fees.

Problem 1: Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Problem 2: Show the balance sheet presentation of the investment-related accounts at December 31, 2020. (Do not leave any answer field blank. Enter 0 for amounts.)

Reference no: EM132670687

Questions Cloud

Determine the net present value incorporating bob : Determine the net present value incorporating Bob's estimates of the value of the intangible benefits, but still using the 11% discount rate.
Managing health care quality : Specify four main features in health care organizations that can be used to design a successful quality improvement plan.
May Andrew avoid like-kind exchange treatment : Andrew owns land (adjusted basis of $40,000) that he uses in his business. May Andrew avoid like-kind exchange treatment to recognize his realized loss
Explain what you know about customer value : 1. Explain what you know about customer value? 2. Please explain an example of the concept of implementing customer value!
Show balance sheet presentation of investment-relate account : Show the balance sheet presentation of the investment-related accounts at December 31, 2020. (Do not leave any answer field blank. Enter 0 for amounts.)
Crafting organization-wide security management policy : Crafting an Organization-Wide Security Management Policy for Acceptable Use. What are three risks and threats of the User Domain?
Discuss the benefits of meditation : What is meditation? Discuss the benefits of meditation? (mention at least 3). Is there any research study that support the benefits discussed?
Does the change answer : If your uncle is willing to give you the $2,000 a year at the beginning of each year instead of the end of each year, does this change your answer?
How might the cadre lead clinical innovation : Reflect on the need to improve outcomes in healthcare and consider the following. How might the work of this cadre translate evidence to change practice?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Amount on flexible budget and static budget

Which one of the following would be the same total amount on a flexible budget and a static budget if the activity level is different for the two types of budgets?

  Prepare the journal entry for overhead

Ralph Co manufactures products on a job-order basis. Job 4 is an order for 100 units. It requires $3,000 direct materials, $1,000 direct labor, and $1,500.

  Describe nature of depreciation as it is used in accounting

Describe the nature of depreciation as it is used in accounting (what does it accomplish?). Which types of assets are amortized? Give some examples.

  Burr company has identified seven activities as part of its

burr company has identified seven activities as part of its manufacturing process and chosen corresponding activity

  Costs for the promotion

It is estimated that 750 additional cones would be sold and that 950 cones would be given away. Advertising costs for the promotion would be $350.

  Aaa lock manufacturing co makes and sells several models of

aaa lock manufacturing co. makes and sells several models of locks. the cost records for the zforce lock show that

  Calculate the projected return on this stock

A stock has a beta of 1.65, and the projected return on the market is 12.25 percent, with a risk-free rate of 4.75 percent. Calculate projected return on stock

  Design preventive control that will reduce valuation errors

Work in process inventory can be particularly challenging to value. For each cost element, design a preventive control that will reduce valuation errors

  What will happen to official reserve account supply of atons

A supply-and-demand model can illustrate the difficulty of keeping a fixed exchange rate: It's much the same as any other price floor.

  How much water must be available to support local population

Assuming a use of 10,000 gallons per month per household, estimate how much water must be available to support your local town population?

  Prepare the adjusting entries and show all computations

Prepaid Advertising $13,200. This balance consists of payments on two advertising contracts. Prepare the adjusting entries (show all computations)

  Compute the total cost function and total cost for the month

Labor 1,800: $1,300 fixed plus $500 for hourly help for assembling five computers. compute the total cost function and total cost for the month

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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