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- - Assuming no other transactions are noted regarding these financial assets at fair value through profit or loss, what is the amount of unrealized gain/loss reported in the 2021 income statement relating to these securities? A. P29,000 loss B. P20,000 loss C. P29,000 gain D. P20,000 gain - What is the gain on sale reported in A Company's 2022 income statement? A. P38,000 B. P18,000 C. P9,000 D. P0 - Assuming that the securities held by A Company are classified as at fair value through other comprehensive income, what is the gain on sale reported in A Company's 2021 income statement? A. P38,000 B. P18,000 C. P9,000 D. P0Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. a. What was net operating working capital for 2018 and 2019? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes.b. What was Arlington's 2019 free cash flow?c. Construct Arlington's 2019 statement of stockholders' equity.d. What was Arlington's 2019 EVA? Assume that its after-tax cost of capital is 10%.e. What was Arlington's MVA at year-end 2019? Assume that its stock price at December 31, 2019 was $25.Jim Sox Company owns debt securities classified as available for sale which were acquired in 2019 at face value of $17 million. During 2021, the fair value of those securities increased by $220,000. How should the accountants for Jim Sox Company report this increase in Sox’s 2021 statement of cash flows using the indirect presentation of cash flows from operating activities? a. As a positive cash flow from investing activities b. As a negative adjustment to reconcile net income to net cash from operating activities c. As a positive cash flow from financing activities d. the increase will not be reported on the statement of cash flows using the indirect presentation of cash flows from operating activities
- Sandhill Company's equity securities portfolio which is appropriately included in current assets is as follows: December 31, 2021 Cost Fair Value UnrealizedGain (Loss) Catlett Corp. $220000 $183000 $-37000 Lyman, Inc. 209000 225000 16000 $429000 $408000 $-21000 Ignoring income taxes, what amount should be reported as a charge against income in Sandhill's 2021 income statement if 2021 is Sandhill's first year of operation? $37000 loss. $0. $21000 loss. $16000 gain.FREE CASH FLOW Arlington Corporation’s financial statements (dollars and shares are in millions) are provided here. a. What was net operating working capital for 2018 and 2019?Assume that all cash is excess cash; i.e., this cash is not needed foroperating purposes.b. What was Arlington's 2019 free cash flow?c. Construct Arlington's 2019 statement of stockholders' equity.d. What was Arlington's 2019 EVA? Assume that its after-tax cost ofcapital is 10%.e. What was Arlington's MVA at year-end 2019? Assume that itsstock price at December 31, 2019 was $25.Asian bank acquired the following portfolio equity securities to other comprehensive income during 2018 and reported the following balances: Market ValueSecurity Historical Cost 2018 2019A 600,000 610,000 625,000B 380,000 385,000 400,000C 450,000 470,000 490,000No sales occurred during 2018 and 2019. All declines are considered to be temporary. What is the carrying value of the portfolio of equity securities in Asian's December 31, 2018 and 2019 statement of financial positions, respectively? a. 1,430,000 and 1,430,000 b. 1,430,000 and 1,515,000 c. 1,430,000…
- An entity reported the following data for the current year. What amount should be reported as income from continuing operations? Net Sales $ 9.500,000 Cost of Goods Sold 4.000.000 Selling Expenses 1,000,000 Administrative Expenses 1,200.000 Interest Expense 700.000 Gain from expropriation of Land 500.000 Income Tax 800.000 Income from Discontinued Operations 600,000 Unrealized Gain on Equity Investment at FVOCI 900,000 Unrealized Loss on future contracts designated as Cash Flow Hedge 400.000 Increase in projected benefit obligation due to actuarial assumptions 300,000 Foreign Translation Adjustment – Debit 100,000 Revaluation Surplus 2.500.000What amount of loss/gain from investments should Sofia report in 2021 income statement?* Sofia had investments in equity securities costing $1,000,000 that were classified as investment in fair value thru other comprehensive income. On June 30, 2021, Sofia decided to reclassify the investment as investment in fair value thru profit and loss. The investments' fair value was P985,000 at December 31, 2020 and $950,000 at June 30, 2021, and #1,500,000 at December 31, 2021. ₱ 15,000 loss ₱ 0City Company purchased the following portfolio of equity securities during 2020 and the company has made an irrevocable designation as fair value to other comprehensive income. The following information pertains to the securitiesSecurity Cost Market Value 12/31/20X P 800,000 P 820,000 Y 1,300,000 1,320,000Z 220,000 280,000How much should City Company report as unrealized gain related to the securities transactions in its 2020 statement of financial position? a. none b. 20,000 unrealized gain c. 100,000 unrealized gain d. 120,000 unrealized gain
- Splish Inc. provided the following information for the year 2020. $ Retained earnings, January 1, 2020 Administrative expenses Selling expenses Sales revenue Cash dividends declared Cost of goods sold Loss on discontinued operations Rent revenue Unrealized holding gain on available-for-sale debt securities Income tax applicable to continuing operations Income tax benefit applicable to loss on discontinued operations Income tax applicable to unrealized holding gain on available-for-sale debt securities 756,000 302,400 378,000 2,394,000 100,800 1.071,000 138,600 129,402 21,420 235,620 76,230 2,520 SPLISH, INC. Income Statement For the Year Ended December 31, 2020 Revenues Sales Revenue $ 2394000 Rent Revenue 100800 Total Revenues 2494800 Expenses Cost of Goods Sold 1071000 Selling Expenses 378000 Administrative Expenses 302400 Total Expenses Income From Continuing Operations Before Income Tax Income From Continuing Operations Less : Applicable Income Tax Reduction Income From Continuing…Trend Company reported the following investment in equity through other comprehensive income in its December 31, 2020 statement of financial position: Brand Company, equity instrument, at fair market value PI,200,000 Unrealised loss reported in OC1 200 000 0n December 31,2021, there was objective evidence that came to the attention of Trend Company that the investment in Brand Company is impaired. Market value of the investment was established at P800,000. What amount of impairment loss should Trend Company recognize on the investment as of December 31, 2019?During 2021, Lavida Loca Company purchased trading securities with the following cost and market value on December 31, 2021. Cost Market value A 300,000 400,000 B 1,500,000 1,700,000 C 3,800,000 3,900,000 The entity sold Investment C on January 10, 2022 for P 4,000,000 What is the unrealized gain or loss should be reported in the income statement for 2021? a. 100,000 gain b, 100,000 loss c. 400,000 gain d. 400,000 loss