In its first year of operations, Roger Company purchased trading securities at a total cost of $53,000.
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Question:
In its first year of operations, Roger Company purchased trading securities at a total cost of $53,000. On December 31, the end of Roger's fiscal year, the fair market value of those investments totaled $57,000. As a result of these investments, Roger Company will report
A) Unrealized Holding Gain/Loss - Trading Securities of $4,000 on the income statement as ordinary income
B) Investment in Trading Securities $53,000
C) A credit balance in the contra account to of investment in trading securities $4,000
D) Investment in Trading Securities $57,000
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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