Question

During 2013, Fischer/Black Company purchased equity securities classified as available-for-sale securities. On May 22, 2014, the company recorded the following correct journal entry to record the sale of the equity securities:


a. What was the acquisition cost of these securities in 2013?
b. What was the market price of these securities at the end of 2013?
c. What is the total amount of securities gain or loss that Fischer/Black reports on the income statement for2014?


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  • CreatedMarch 04, 2014
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