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 Topic: Unrealized G/L for Securities ( Topic Closed)
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Tajik4CPA
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Joined: 15 Oct 2009
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Posts: 238
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| Posted: 08 Jun 2010 at 14:30 | IP Logged
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It says the decline is temporary hence no impairment taken.
__________________
FAR - 92
AUD - 82
REG - 83
BEC - 90
Becker 2009 and Gleim 2010, Wiley 13.0
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Wert
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Joined: 17 Apr 2010
Location: United States
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| Posted: 08 Jun 2010 at 18:58 | IP Logged
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I have found a similar problem on the forum
Securities JKL cost = 170,000, 12/31/1993 FV = 175,000, 12/31/1994
FV = 160,000.
How much unrealized G/L goes on 12/31/1994 as other comprehensive
Becker's answer is $10K unrealized loss.
Combining it with the problem mentioned earlier we have to add 25 and minus 15,000 to get 10,000 gain as an answer.
I understand that we add 25,000 but I am completely lost why we use 15,000 not 10,000 (we have 10K unrealized loss in OCI in 1994 (+5-15) Why do we take only 15,000 (change for a year) and not 10,000 (overall change in OCI?) I am missing smth but I can't find out what...
Got completely confused. Please help. I tried to find the answer in earlier posts but got stuck:(
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Tajik4CPA
Regular
Joined: 15 Oct 2009
Online Status: Offline
Posts: 238
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| Posted: 09 Jun 2010 at 09:23 | IP Logged
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Wert wrote:
I have found a similar problem on the forum
Securities JKL cost = 170,000, 12/31/1993 FV = 175,000, 12/31/1994
FV = 160,000.
How much unrealized G/L goes on 12/31/1994 as other comprehensive
Becker's answer is $10K unrealized loss.
Combining it with the problem mentioned earlier we have to add 25 and minus 15,000 to get 10,000 gain as an answer.
I understand that we add 25,000 but I am completely lost why we use 15,000 not 10,000 (we have 10K unrealized loss in OCI in 1994 (+5-15) Why do we take only 15,000 (change for a year) and not 10,000 (overall change in OCI?) I am missing smth but I can't find out what...
Got completely confused. Please help. I tried to find the answer in earlier posts but got stuck:(
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Because the question is asking what the amount in other comprehensive income for the year is. If it would have asked you what the accumulated other income would be, then the net change for two years would be correct.
__________________
FAR - 92
AUD - 82
REG - 83
BEC - 90
Becker 2009 and Gleim 2010, Wiley 13.0
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