Use the following information for the next three questions. Below you will find information about the investment portfolio of common stocks held by Amber Co. Amber uses FVNI accounting for the investments. 12/31/2020 Stock Alpha Beta Gamma Total Shares 50 40 30 1/1/2020 a. b. 200 c 10 c C. Cost per share d. 110 c e. 200 dr $5.00 8.00 4.00 Total cost 250 320 120 $690 Total fair value 7. On 12/31/2021, the balance of the Fair Value Adjustment account is 30 $175 215 90 $480 Total cost 8. For 2021, the unrealized gain (loss) reported in 2021 income is a (10) b. (200) C. 10 d. (110) e. None of the above 250 320 n/a $570 6. The Gamma shares were sold for a combined total of $105 in 2021. The realized gain (loss) on the sale was a. (30) b. 15 c. 30 d. (15) e. None of the above 12/31/2021 Total fair value 180 190 $370
Use the following information for the next three questions. Below you will find information about the investment portfolio of common stocks held by Amber Co. Amber uses FVNI accounting for the investments. 12/31/2020 Stock Alpha Beta Gamma Total Shares 50 40 30 1/1/2020 a. b. 200 c 10 c C. Cost per share d. 110 c e. 200 dr $5.00 8.00 4.00 Total cost 250 320 120 $690 Total fair value 7. On 12/31/2021, the balance of the Fair Value Adjustment account is 30 $175 215 90 $480 Total cost 8. For 2021, the unrealized gain (loss) reported in 2021 income is a (10) b. (200) C. 10 d. (110) e. None of the above 250 320 n/a $570 6. The Gamma shares were sold for a combined total of $105 in 2021. The realized gain (loss) on the sale was a. (30) b. 15 c. 30 d. (15) e. None of the above 12/31/2021 Total fair value 180 190 $370
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
ChapterMB: Model-building Problems
Section: Chapter Questions
Problem 4M
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Please show calculation and explanation for all 3 parts!!!!
but dont give handritten answer thank you
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