Money for Nothing Enterprises ( MNE) held the following available- for- sale securities during year 2: What

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Money for Nothing Enterprises (€œ MNE€) held the following available- for- sale securities during year 2:

What will MNE report as unrealized gain on available- for- sale securities on its year 2 statement of comprehensive income ( ignore taxes)?
a. $ 2,000
b. $ 3,000
c. $ 6,000
d. $ 8,000

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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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Question Posted: Nov 24, 2015 05:23 AM

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Money for Nothing Enterprises ( MNE) held the following available- for- sale securities during year 2: What

Question:

Cost $50,000 $35,000 $21,000 Market Value 12/31/Y1 $53,000 $30,000 $27000 Sales Price Market Value 12/31/Y2 Alpha Corp. Beta Corp. Omega Corp. $57,000 $38,000 $24,000

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Choice a is correct At 12 31 y1 the cost of the portfolio is 106000 and the fair value of t...View the full answer

Intermediate Accounting

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