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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 60
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:
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.
On December 31, Year 1, Valur Co. had the following available-for-sale investment disclosure within the Current Assets section of the balance sheet:
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.
Explanation
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Computation of Comprehensive Income:
St...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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