Gecko Investments has the following data regarding their debt investments as ofDecember 31,2021:Original CostAmortized CostMarket ValueTrading Bonds959697Available for Sale Bonds959697Held-to-Maturity Bonds9596971. What is the total amount of gain or loss to be reported as part of othercomprehensive income? Give both the amount and whether it is a gain or loss.

Answered: Image /qna-images/answer/e02113d9-9494-4875-958b-5c68c02e512e.jpg

Gecko Investments has the following data regarding their debt investments as of December 31, 2021: Original Cost Amortized Cost Market Value 95 96 97 Trading Bonds 96 97 95 Available for Sale Bonds 96 97 95 Held-to-Maturity Bonds 1. What is the total amount of gain or loss to be reported as part of other comprehensive income? Give both the amount and whether it is a gain or loss.

Gecko Investments has the following data regarding their debt investments as of December 31, 2021: Original Cost Amortized Cost Market Value 95 96 97 Trading Bonds 96 97 95 Available for Sale Bonds 96 97 95 Held-to-Maturity Bonds 1. What is the total amount of gain or loss to be reported as part of other comprehensive income? Give both the amount and whether it is a gain or loss.

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 8GI

See similar textbooks

Similar questions

Problem was attached* In its December 31, 2019 income statement, how much should Bell Company report as interest income on the bonds? How much should Bell Company report as investment in bonds on December 31, 2019?
If a company have a patent and it will not generate probable future economic benefits, in this case the company will: Select one: a. Derecognition. O b. None of the options. c. Not recorded. O d. Record it as an asset
Assume bonds payable are amortized using the straight-line amortization method unless stated otherwise. Computing the debt to equity ratio Ludwig Corporation has the following data as of December 31, 2018: Compute the debt to equity ratio at December 31, 2018.
Assume bonds payable are amortized using the straight-line amortization method unless stated otherwise. Computing the debt to equity ratio Jackson Corporation has the following amounts as of December 31, 2018. Compute the debt to equity ratio at December 31, 2018.
1. How much gain or (loss) should be recognized on the sale of Orange bonds? 2. How much unrealized gain or (loss) is to be recognized in the income statement for the current year? 3. How much is the interest income at year end?
1. How much from the list od debt above? (items a to d, excluding accrued interests) should be presented as current as of December 31,2021? 2. How much from the list of debt above should be presented as non current assets as of December 31, 2021? 3. How much should be accrued, if there are any, as a result of the information in item E?
1. Assuming that the company’s business model has an objective of holding the debt securities to collect contractual cash flows, what is the realized gain on sale of the Yankee bonds in 2021? 2. Assuming that the company's business model has an objective of holding debt securitiees to collect contractual cash flows, what is the total unrealized holding gain/loss to be reported in the profit/loss for 2021?
Listed below are several terms and phrases associated with current liabilities. Pair each item from List A (by letter) with the item from List B that is most appropriately associated with it. 1. 2. Payable with current assets. 3. List A Face amount x Interest rate x Time. 4. a. b. Short-term debt to be refinanced with common stock. c. Present value of interest plus present value of principal. 5. Noninterest-bearing. 6. Noncommitted line of credit. 7. Pledged accounts receivable. 8. Reclassification of debt. 9. Purchased by other corporations. 10. Expenses not yet paid. 11. Liability until refunded. 12. Liability until satisfy performance obligation d. e. f. g. |h. I. J. k. 1. List B Informal agreement Secured loan Refinancing prior to the issuance of the financial statements Accounts payable Accrued liabilities Commercial paper Current liabilities Long-term liability Usual valuation of liabilities Interest on debt Customer advances Customer deposits
Sheridan Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2025. Amortized cost Fair value Expected credit loss (a) $50,800 41,600 12.450 Your answer is correct. What is the amount of the credit loss that Sheridan should report on this available-for-sale security at December 31, 2025? (Do not leave any answer field blank. Enter O for amounts.) Amount of the credit loss. $ 9200
What adjustment must be made at the end of the period for trading debt investments and available-for-sale debt investments?
When a company retires bonds early, the gain or loss on the retirement is the differencebetween the cash paid and thea. face value of the bonds.b. maturity value of the bonds.c. carrying value of the bonds.d. original selling price of the bonds.
Prepare adjusting entry using fair value. BEH.4 (LO 3), AP Cost and fair value data for the trading debt securities of Lecler Company at December 31, 2022, are $62,000 and $59,600, respectively. Prepare the adjusting entry to record the securities at fair value. Indicate statement presentation using fair value.