On April 23, 2015, Albert Co. purchased 1,500 shares of Jasper Ltd. for $55 per share including

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On April 23, 2015, Albert Co. purchased 1,500 shares of Jasper Ltd. for $55 per share including the brokerage commission. The Jasper Ltd. investment was classified as an available-for-sale investment. On December 31, 2015, the fair value of Jasper Ltd. was $65 per share. The net income of Albert Co. was $70,000 for 2015.
Prepare a statement of comprehensive income for Albert Co. for the year ended December 31, 2015. Albert Co. includes brokerage fees as part of the cost of investments.
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Accounting Volume 2

ISBN: 978-0176509743

2nd Canadian edition

Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren

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