Merlin Enterprises sold the following equity investment on September 30, year 2: What is the amount of

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Merlin Enterprises sold the following equity investment on September 30, year 2:
Merlin Enterprises sold the following equity investment on September 30,

What is the amount of the realized gain or loss on Merlin€™s year 2 income statement, assuming that the investment in Beard Inc. is classified as a trading security?
a. $ 0
b. $( 8,000)
c. $ 4,000
d. $ 12,000

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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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