On its December 31, 2020, balance sheet, Pharoah Company reported its investment in equity securities, which had cost $640000, at fair value of $592000. At December 31, 2021, the fair value of the securities was $621000. What should Pharoah report on its 2021 income statement as a result of the increase in fair value of the investments in 2021?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On its December 31, 2020, balance sheet, Pharoah Company reported its investment in equity securities, which had cost $640000, at fair ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Sam is a responsible citizen and files his annual tax returns judiciously. What should he do with tax return documents that are more than three years old?
Answers (1)
6. Godiva & Company was recently formed with a $5,000 investment in the company by stockholders. The company then borrowed $2,000 from a local bank, purchased $1,000 of supplies on account, and also purchased $5,000 of equipment by paying $2,000 in
Answers (1)
Economic terminology, the inputs used to produce output are referred to as
Answers (1)
Carol wants to invest money in a 6% CD account that compounds semiannually. Carol would like the account to have a balance of $50,000 five years from now. How much must Carol deposit to accomplish her goal? (A) $37,205. (B) $43,131. (C) $35,000.
Answers (1)
The recording, classifying, summarizing, and interpreting of financial events and transactions to provide management and other interested parties the information they need to make good decisions. What is it?
Answers (1)
New Questions in Business
A method of distributing a firm's earnings to shareholders such that the shareholders can select when they want to claim the income for tax purposes is a:
Answers (1)
Parker Inc. is obligated to pay its creditors $33,333 very soon. If the market value of the firm's assets equals $49,700, calculate the residual value owed to the shareholders.
Answers (1)
Monopolistic competition is similar to perfect competition in that: Select one: a. there are a large number of firms b. firms earn economic profits in the long run c. firms face downward-sloping demand curves
Answers (1)
Classify the following activities in providing medical services at Healthsmart Clinic. Activity Control Level Activity Driver A. Registering patients B. Cleaning beds C. Stocking examination rooms D. Washing linens E. Ordering medical equipment F.
Answers (1)
In the cash flow statement, cash is defined as
Answers (1)