Business, 10.03.2020 22:32 nautiannaharper59901

On January 1, 2018, Ross Corporation issued bonds with a maturity value of $200,000; the bond’s stated rate of interest equaled the market interest rate on the issue date. On December 31, 2018, the market value of the bonds was $188,926; on December 31, 2019, the market value of the bonds was $191,325. Which of the following correctly describes Ross Corporation’s financial reporting if Ross elects to measure the bond liability using the fair value accounting option?

a. For the year ending December 31, 2019, Ross will report an unrealized holding loss of $2,399 in its income statement.
b. For the year ending December 31, 2019, Ross will report an unrealized holding loss of $8,675 in its income statement.
c. For the year ending December 31, 2018, Ross will report an unrealized holding loss of $11,074 in its income statement.
d. For the year ending December 31, 2019, Ross will report an unrealized holding gain of $8,675 in its income statement.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:50

Which of the following statements is not correct? 1) trade allows for specialization. 2) trade has the potential to benefit all nations. 3) trade allows nations to consume outside of their production possibilities curves. 4) absolute advantage is the driving force of specialization.

Answers: 3

Answer

Business, 22.06.2019 13:10

bradford, inc., expects to sell 9,000 ceramic vases for $21 each. direct materials costs are $3, direct manufacturing labor is $12, and manufacturing overhead is $3 per vase. the following inventory levels apply to 2019: beginning inventory ending inventory direct materials 3,000 units 3,000 units work-in-process inventory 0 units 0 units finished goods inventory 300 units 500 units what are the 2019 budgeted production costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively?

Answers: 2

Answer

Business, 22.06.2019 20:00

Harry is 25 years old with a 1.55 rating factor for his auto insurance. if his annual base premium is $1,012, what is his total premium? $1,568.60 $2,530 $1,582.55 $1,842.25

Answers: 1

Answer

Business, 23.06.2019 13:20

Which type of tax is imposed on specific goods and services at the time of purchase? question 12 options: estate excise general sales value-added

Answers: 1

Answer

You know the right answer?

On January 1, 2018, Ross Corporation issued bonds with a maturity value of $200,000; the bond’s stat...

Questions