Problem 17-09 (Part Level Submission) On January 1, 2020, Ayayai Inc. had the following balance sheet. AYAYAI INC. BALANCE SHEET AS OF JANUARY 1, 2020 Assets Equity Cash Debt investments (available-for-sale) $245,400 39,000 $51,500 Common stock 232,900 Accumulated other comprehensive income Total $284,400 Total $284,400 The accumulated other comprehensive income related to unrealized holding gains on available-for-sale debt securities. The fair value of Ayayai Inc.'s available-for-sale debt securities at December 31, 2020, was $196,300; its cost was $147,000. No securities were purchased during the year. Ayayai Inc.'s income statement for 2020 was as follows. (Ignore income taxes.) AYAYAI INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Dividend revenue $4,500 Gain on sale of investments 31,300

Problem 17-09 (Part Level Submission) On January 1, 2020, Ayayai Inc. had the following balance sheet. AYAYAI INC. BALANCE SHEET AS OF JANUARY 1, 2020 Assets Equity Cash Debt investments (available-for-sale) $245,400 39,000 $51,500 Common stock 232,900 Accumulated other comprehensive income Total $284,400 Total $284,400 The accumulated other comprehensive income related to unrealized holding gains on available-for-sale debt securities. The fair value of Ayayai Inc.'s available-for-sale debt securities at December 31, 2020, was $196,300; its cost was $147,000. No securities were purchased during the year. Ayayai Inc.'s income statement for 2020 was as follows. (Ignore income taxes.) AYAYAI INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Dividend revenue $4,500 Gain on sale of investments 31,300

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

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 11P: Net Income and Comprehensive Income At the beginning of 2019, JR Companys shareholders equity was as...

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