Continental Bank, a nationwide banking company, owns many types of investments. Continental paid $550,000 for equity securities
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Continental Bank, a nationwide banking company, owns many types of investments. Continental paid $550,000 for equity securities on December 5. Continental owns less than 10% of the stock of the companies in which it invests. Two weeks later, Continental received a $37,000 cash dividend. On December 31, these equity securities were quoted at a market price of $554,000. Continental’s December income statement would include an
a. Unrealized loss of $4,000.
b. Unrealized gain of $41,000.
c. Unrealized gain of $4,000.
d. Unrealized loss of $41,000.
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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