Founded on January 1, 2017, Gehl Company had the following short-term investments in securities at the end
Question:
Founded on January 1, 2017, Gehl Company had the following short-term investments in securities at the end of 2017 and 2018 (all were held in the "trading" portfolio):
Equity Security Cost12/31/18 Fair Value
A...............................$ 96,000......................$ 94,000
B................................184,000.......................162,000
C................................126,000.......................136,000
Required:
If the company recorded a $4,000 debit to its Fair value adjustment-Trading securities account at the end of 2018 as its fair value adjustment, what must have been the unrealized gain or loss recorded at the end of 2017?
Step by Step Answer:
Equity 123118 Unrealized Security Cost Fair Value gainloss A 96000 94000 2000 B ...View the full answer
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
