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Comprehensive income On December 31, Year 1, Valur Co. had the following available-for-sale investment disclosure within the Current Assets .section of the balance .sheet: Available-for-sale investments (at cost) $145,000 Plus valuation allowance for available-for-sale investments 40.000 Available-for-sale investments (at fair value) $185.000 There were no purchases or sales of available-for-sale investments during Year 2, On December 31. Year 2, the fair value of the available-for-sale investment portfolio was $200,000. The net income of Valur Co. was $210,000 for Year 2. Compute the comprehensive income for Valur Co. for the year ended December 31, Year 2.

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Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094
BuyFind

Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094

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Chapter
Section
Chapter 15, Problem 15.29EX
Textbook Problem

Comprehensive income

On December 31, Year 1, Valur Co. had the following available-for-sale investment disclosure within the Current Assets .section of the balance .sheet:

Available-for-sale investments (at cost) $145,000
Plus valuation allowance for available-for-sale investments 40.000
Available-for-sale investments (at fair value) $185.000

There were no purchases or sales of available-for-sale investments during Year 2, On December 31. Year 2, the fair value of the available-for-sale investment portfolio was $200,000. The net income of Valur Co. was $210,000 for Year 2.

Compute the comprehensive income for Valur Co. for the year ended December 31, Year 2.

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Chapter 15 Solutions

Accounting
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