Financial Accounting: Tools for Business Decision Making, 8th Edition
Financial Accounting: Tools for Business Decision Making, 8th Edition
8th Edition
ISBN: 9781118953808
Author: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Publisher: WILEY
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Chapter AH, Problem 14Q
To determine

Available-for-sale securities: Available-for-sale are short-term or long-term debt equity securities that are not classified as trading or held to maturity securities. These securities are readily sold in the short-term to receive return on investment.

To explain: the reporting of available-for-sale securities (long-term) in the financial

statements prepared on December 31 by Mr. P.

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Students have asked these similar questions
An audit team testing long-term investments would ordinarily use analytical procedures to ascertain the reasonableness of thea. Existence of unrealized gains or losses.b. Completeness of recorded investment income.c. Classification as available-for-sale or trading securities.d. Valuation of trading securities.
Describe how short-term investments are reported in the balance sheet and account fortransactions involving marketable securities.
how to assess the estimation techniques of long-term corporate investments, by focusing  on the relationship between time and accuracy in stock valuation techniques?
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