I was just reviewing marketable securities, I think the realized G/L for an AFS security is the difference between it's initial cost and the selling price. Whatever was accumulated in OCI is eliminated
Yep, correct. For the AFS Security you would take the original cost and subtract the selling price to get the realized G/L. The AOCI would be eliminated through a debit if it was a gain, or a credit if it was a loss.
for trading securities, it would be the adjusted cost less the selling price= realize G/L.
Also, watch out in question when they say things like “purchased a long term investment”. That tends to throw me off but its how you determine whether or not to calculate the G/L for AFS vs Trading
Assets such as property taxes receivable associated with unavailable revenues such as property taxes collected more than 60 days after year end should be recorded by crediting :
A. An increase non spendable fund balance
B. A deferred Inflow of resources
C. A deferred Outflow of resources
D. An allowance
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