On January 1,2021 Hubalde Company purchased training equity investments which are irrevocably designated at FVPL: 1. Determine the unrealized gain/loss on december 31,2021? 2. Determine the net gain/loss reported on the income statement on december 31,2021? 3. What are the related journal entries?
On January 1,2021 Hubalde Company purchased training equity investments which are irrevocably designated at FVPL: 1. Determine the unrealized gain/loss on december 31,2021? 2. Determine the net gain/loss reported on the income statement on december 31,2021? 3. What are the related journal entries?
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
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 12MC: (Appendix 14.1)Pamlico Company has a 500,000, 15%, 3-year note dated January 1, 2019, payable to...
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On January 1,2021 Hubalde Company purchased training equity investments which are irrevocably designated at FVPL:
1. Determine the unrealized gain/loss on december 31,2021?
2. Determine the net gain/loss reported on the income statement on december 31,2021?
3. What are the related journal entries ?
4. Assuming, the entity irrevocably designated it ay FVOCI, How much is the unrealized gain/loss- FVOCI on December 31,2021?
5. Assuming, the entity irrevocably designated it ay FVOCI, How much is the unrealized gain/loss reported on the income statement on December 31,2021?
6. Assuming the entity irrevocably designated it at FVOCI, What are the related journal entries?
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