Quiz Review Week 4

  • October 2019
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Week 4 Quiz Review – Chapter 12 Here are the topics covered on the quiz. You should know the following: 1. Accounting for unrealized gain or loss on investments held as either trading securities or available for sale – including whether or not to include in income 2. Amount to report on balance sheet for an investment if know percentage owned, dividends paid, net income for the year, etc. 3. How to record dividends received on investments, and how percentage of ownership can affect manner in which transaction is handled 4. Reporting a gain on an equity security using the cost method 5. Treatment of additional depreciation due to differences between book values and fair values of investee assets on the date of acquisition, using equity method 6. Application of FASB 115 in context of percentage of ownership 7. Which type of securities include/exclude equity securities, and for which type would a change in its fair value be reflected in the shareholders’ equity section of the balance sheet 8. When to report securities at cost, amortized cost, consolidated value or net present value (if applicable)

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