On January 1, 2021, Kavior Inc. had a credit balance in the Accumulated Other Comprehensive Income ("AOCI") of $36,970. On August 21, 2021, Kavior Inc. purchased 3 shares of Emilia Inc. for $110 plus $2,500 in brokage commission, which were capitalized. Kavior Inc. correctly classified this investment as FV-OCI without recycling. On September 20, 2021, Kavior Inc. sold half of the shares for $114 each. On December 31, 2021, Emilia Inc. shares traded at $107. In 2021, Kavior Inc. reported net income $35,920. The amount that Kavior Inc. would report in its AOCI account at December 31, 2021 is: O a. $41,670 O b. $43,970 O c. $31,220
On January 1, 2021, Kavior Inc. had a credit balance in the Accumulated Other Comprehensive Income ("AOCI") of $36,970. On August 21, 2021, Kavior Inc. purchased 3 shares of Emilia Inc. for $110 plus $2,500 in brokage commission, which were capitalized. Kavior Inc. correctly classified this investment as FV-OCI without recycling. On September 20, 2021, Kavior Inc. sold half of the shares for $114 each. On December 31, 2021, Emilia Inc. shares traded at $107. In 2021, Kavior Inc. reported net income $35,920. The amount that Kavior Inc. would report in its AOCI account at December 31, 2021 is: O a. $41,670 O b. $43,970 O c. $31,220
Chapter1: Financial Statements And Business Decisions
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