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    Intel sold available-for-sale securities during fiscal 1998 that had a carrying value of $227 million. The sale generated $201 million in cash and a gain of $185 million. The net unrealized gain on available-for-sale securities still held at the end of fiscal 1998 was $1,138 million.

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    Intel sold available-for-sale securities during fiscal 1998 that had a carrying value of $227 million. The sale generated $201 million in cash and a gain of $185 million. The net unrealized gain on available-for-sale securities still held at the end of fiscal 1998 was $1,138 million.

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    FSA8

    Uploaded by

    babysmeill
    Intel sold available-for-sale securities during fiscal 1998 that had a carrying value of $227 million. The sale generated $201 million in cash and a gain of $185 million. The net unrealized gain on available-for-sale securities still held at the end of fiscal 1998 was $1,138 million.

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    of 1

    3.

    Show the journal entry to reflect the sale of available-for-sale securities by Intel during
    fiscal 1998 (i.e., year ending 12/26/98). Assume that the carrying value of the securities sold
    totaled $227 million at the time of the sale. You may ignore deferred tax considerations for
    this question.
    We can confirm the cash inflow, 201MM, from the cash flow statement. Also, From the note,
    we could get unrealized gain(=227+185-201).

    Cash 201
    Unrealized gain 211
    Investment 227
    Gain on sale of investment 185

    4.What was the cost of available-for-sale securities purchased during fiscal 1998?
    $10,925 million (From the cash flow statement)

    5. Determine the amount of net unrealized gain or loss (before tax considerations) during
    fiscal 1998 for available-for-sale securities on hand at December 26, 1998?

    Net Unrealized Gain/Loss


    0 0
    1063 136
    211
    1138

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