Investments

U-For Corporation purchases equity securities costing $163,480 and classifies them as available-for-sale securities. At December 31, the fair value of the portfolio is $167,500.Instructions

Prepare the adjusting entry to report the securities properly and indicate the statement presentation of the accounts in your entry.

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Two bonds have identical times to maturity and coupon rates. One is callable at 105, the other at 110. Which should have the higher yield to maturity? Why?

Translate into dollars the balance sheet of Utah Leather Goods Spanish subsidiary. When Utah Leather Goods acquired the foreign subsidiary a euro was worth $1.01. The current exchange rate is $1.38. During the period when retained earnings were earned, the average exchange rate was $1.18 per euro. EurosAssets……………………………….. 800,000Liabilities………………………….. 550,000Stockholders equity:Common stock……………….. 70,000Retained earnings……………. 180,000800,000During the period covered by this situation, which currency was stronger, the dollar or the euro?View Solution:
Translate into dollars the balance sheet of Utah Leather Goods

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