Allowance for decline in market value of noncurrent equity investments - Page 2

  • Creator
    Topic
  • #839491
    vodrldnr
    Participant

    52. When preparing a draft of its 2005 balance sheet, Mont, Inc. reported net assets totaling $875,000. Included in the asset section of the balance sheet were the following:
    Treasury stock of Mont, Inc. at cost, which approximates market value on December 31 $24,000
    Idle machinery 11,200
    Cash surrender value of life insurance on corporate executives 13,700
    Allowance for decline in market value of noncurrent equity investments 8,400

    At what amount should Mont’s net assets be reported in the December 31, 2005 balance sheet?
    A. $851,000
    B. $850,100
    C. $842,600
    D. $834,500

    can someone plz explain “Allowance for decline in market value of noncurrent equity investments” ?????

    answer :a

Viewing 2 replies - 16 through 17 (of 17 total)
  • Author
    Replies
  • #841497
    Anonymous
    Inactive

    I have not used ninja notes. Constant dollar accounting and cost accounting in FAR? shouldnt that be BEC?
    In my opinion, there is really no need to go beyond what Wiley book explains. I do not think I have done Constant dollar accounting or cost accounting for FAR, but instead of those, there are many other things to focus such as non monetary exchanges or governmental accounting. Hope this helps.

    #841539
    vodrldnr
    Participant

    @Loo, thank you. there is still 2~3 MCQ about current and constant dollar accounting in Wiley FAR book..

    I may just skip this part …

    thank you so much .

    I will buy Ninja MCQ after reviewing wiley really deeply

Viewing 2 replies - 16 through 17 (of 17 total)
  • The topic ‘Allowance for decline in market value of noncurrent equity investments - Page 2’ is closed to new replies.