curities of $155000. This investment experienced an unrealized loss of $8500 during the current year. Assuming a 34% tax rate, the amount of this loss that would reported as part of other comprehensive income would be: None.
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Metlock, Inc. has an investment in trading securities of $155000. This investment experienced an unrealized loss of $8500 during the current year. Assuming a 34% tax rate, the amount of this loss that would reported as part of other comprehensive income would be:
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- Windsor, Inc. has an investment in trading securities of $151000. This investment experienced an unrealized loss of $8100 during the current year. Assuming a 33% tax rate, the amount of this loss that would reported as part of other comprehensive income would be:Windsor, Inc. has an investment in trading securities of $162000. This investment experienced an unrealized loss of $9200 during the current year. Assuming a 33% tax rate, the amount of this loss that would reported as part of other comprehensive income would be: $53460 loss. $162000 loss. $108540 loss. None.On January 1, 2001, X.Co purchased marketable equity securities at its market value of P5,000,000, while the company also paid commission, taxes and other transaction costs amounting to P200,000. The securities had the following market value on the these dates: December 31, 2001 4,700,000 December 31, 2002 5,300,000 No securities were sold during 2001 and 2002. What amount of unrealized gain or loss should be reported in the 2002 income statement if the securities were held for trading?
- asap In 2009, Bratz, Inc.’s net profit before tax was P35 million while its operating expenses was P31 million. In 2010, its net profit before tax was P40 million and its operating expenses was P38 million. It did not declare dividends for 2009 and 2010. And it has no proposed capital expenditures for 2011 and the immediate future. May Bratz be subject to the improperly accumulated tax on its retained profits for 2009 and 2010? a. Yes, since the accumulated amounts are reasonable for operations in relation to what it usually needed annually. B. b. No, because the taxpayer is not shown to be a publicly-listed corporation, a bank, or an insurance company. c. No, because there is no showing that the taxpayer's 2009 and 2010 net profit before tax exceeded its paid-up capital. d. Yes, since the accumulation is not reasonably necessary for the immediate needs of the business.On January 1, 2020, the Stew Corporation purchased equity securities to be held for trading purposes for $2,000,000. The company also paid commissions, taxes and other transaction costs amounting to $50,000. The securities had fair values at December 31, 2020 and 2021, respectively: $1,750,000 and $2,100,000. No securities were sold during 2020. What amount of unrealized gain (loss) should be reported in the 2020 profit or loss section of the statement of comprehensive income?On January 1, 2020, the Soondubu Stew Corporation purchased equity securities to be held for trading purposes for P2,000,000. The company also paid commissions, taxes and other transaction costs amounting to P50,000. The securities had fair values at December 31, 2020 and 2021, respectively: P1,750,000 and P2,100,000. No securities were sold during 2020. What amount of unrealized gain (loss) should be reported in the 2020 profit or loss section of the statement of comprehensive income?Required to answer. Single choice. -P100,000 -P350,000 -(P250,000) -(P200,000)
- In 2009, Bratz, Inc.’s net profit before tax was P35 million while its operating expenses was P31 million. In 2010, its net profit before tax was P40 million and its operating expenses was P38 million. It did not declare dividends for 2009 and 2010. And it has no proposed capital expenditures for 2011 and the immediate future. May Bratz be subject to the improperly accumulated tax on its retained profits for 2009 and 2010? a. Yes, since the accumulated amounts are reasonable for operations in relation to what it usually needed annually. B. b. No, because the taxpayer is not shown to be a publicly-listed corporation, a bank, or an insurance company. c. No, because there is no showing that the taxpayer's 2009 and 2010 net profit before tax exceeded its paid-up capital. d. Yes, since the accumulation is not reasonably necessary for the immediate needs of the business.In 2009, Bratz, Inc.’s net profit before tax was P35 million while its operating expenses was P31 million. In 2010, its net profit before tax was P40 million and its operating expenses was P38 million. It did not declare dividends for 2009 and 2010. And it has no proposed capital expenditures for 2011 and the immediate future. May Bratz be subject to the improperly accumulated tax on its retained profits for 2009 and 2010? * Yes, since the accumulated amounts are reasonable for operations in relation to what it usually needed annually. B. No, because the taxpayer is not shown to be a publicly-listed corporation, a bank, or an insurance company. No, because there is no showing that the taxpayer's 2009 and 2010 net profit before tax exceeded its paid-up capital. Yes, since the accumulation is not reasonably necessary for the immediate needs of the business.On October 2020, X Corporation purchased a financial instrument that qualifies as a derivative and serves as a hedge for market value risk. At the end of the year the instrument increased in value by 4,000 . How should corporation X present that profit in the financial statements? Half as part of net income and the other half as comprehensive income you shouldn't recognize it within net income as other comprehensive income
- Bramble Inc. has an investment in available-for-sale securities of $ 68000. This investment experienced an unrealized loss of $ 5800 during the current year. Assuming a 30% tax rate, the effect of this loss on comprehensive income will be a.no effect. b. $ 20400 decrease. c. $ 68000 increase. d. $ 4060 decrease.Pina Colada Corp. has income from continuing operations of $413,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $64,600 on available-for-sale securities. 2. A gain of $26,400 on the discontinuance of a division (comprised of a $9,100 loss from operations and a $35,500 gain on disposal). Assume all items are subject to income taxes at a 20% tax rate.Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. PINA COLADA CORP.Partial Income Statement choose the accounting period select an income statement item $enter a dollar amount select an income statement item select an income statement item…On its December 31, 2020, balance sheet, Trump Company reported its investment in equity securities, which had cost $600,000, at fair value of $560, 000. At December 31, 2021, the fair value of the securities was $585, 000. What should Trump report on its 2021 income statement as a result of the increase in fair value of the investments in 2021? a. 50. b. Unrealized loss of $15,000. c. Realized gain of $25, 000. d. Unrealized gain of $25,000.