Answered

Westonci.ca is the premier destination for reliable answers to your questions, brought to you by a community of experts. Get immediate answers to your questions from a wide network of experienced professionals on our Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Bonita Inc. has an investment in available-for-sale securities of $65000. This investment experienced an unrealized loss of $6100 during the current year. Assuming a 40% tax rate, the effect of this loss on comprehensive income will be

Sagot :

Zviko

Answer:

Decrease by $6100

Explanation:

Any gain or loss adjustment on an investment in available-for-sale securities is accounted for under the title Other Comprehensive Income in the Statement of Profit and Loss and Other Comprehensive Income. Thus, the effect of this loss on comprehensive income will be a Decrease by $6100.

We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.