Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 6 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Sep 2017 My Price 6.00

-Sale Securities

Available-for-Sale Securities

The following are four unrelated situations involving investments in available-for-sale securities:

Situation I

A portfolio of available-for-sale securities with an aggregate fair value in excess of cost includes one particular security whose fair value has declined to less than one-half of the original cost. The decline in value is considered to be other than temporary

Situation II

The statement of financial position of a company does not classify assets and liabilities as current and noncurrent. The portfolio of available-for-sale securities includes securities normally considered current that have a net cost in excess of fair value of $2,000. The remainder of the portfolio has a net fair value in excess of cost of $5,000.

Situation III

An available-for-sale security, whose fair value is currently less than cost, is reclassified as a trading security

Situation IV

A company’s portfolio of available-for-sale securities consists of the common stock of one company. At the end of the prior year, the fair value of the security was 50% of original cost, and the effect was properly reflected in an allowance account. However, at the end of the current year, the fair value of the security had appreciated to twice the original cost.

Required

Explain the effect on classification, carrying value, and earnings for each of the preceding situations.

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Sep 2017 10:09 AM My Price 6.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions