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Seybert Systems accounts for its investment in Wang Engineering bonds as available-for-sale. Seybert's balance in accumulated other comprehensive income with respect to the Wang investment is a credit
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34 votes
Seybert Systems accounts for its investment in Wang Engineering bonds as available-for-sale. Seybert's balance in accumulated other comprehensive income with respect to the Wang investment is a credit balance of $24,000, and Seybert reports the investment as $140,000 on its balance sheet. Seybert purchased the Wang investment for (ignore taxes): __________

User SweSnow
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17 votes
17 votes

Answer: $116000

Step-by-step explanation:

From the question, we are given the following information:

Credit balance = $24,000

Investment = $140,000

The amount that Seybert purchased the Wang investment will be calculated as:

= Reported value of investment - Unrealized gain

= $140,000 - $24,000

= $116,000

User Chmeliuk
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