During 2013, Fischer/Black Company purchased equity securities classified as available-for-sale securities. On May 22, 2014, the company
Question:
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?
Transcribed Image Text:
Cash . . Realized Loss (included in net income) 16,000 5,000 Unrealized Holding Loss (Other Comprehensive Income) .. Marketable Securities . . . 3,000 18,000
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Related Book For
Financial Accounting An Introduction to Concepts, Methods and Uses
ISBN: 978-1133591023
14th edition
Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis
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