During the current year, The Hampton Company purchased 200 shares of Hilton shares for $15,000 as a
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Question:
During the current year, The Hampton Company purchased 200 shares of Hilton shares for $15,000 as a short-term investment. At the end of the year, the market value of the shares was $11,000. The Hampton Company's financial statements for the current year will show:
Select one:
a. an unrealized loss of $4,000 on the income statement and short-term investments of $11,000 on the balance sheet.
b. all of the above.
c. an unrealized gain of $4,000 on the income statement and short-term investments of $11,000 on the balance sheet.
d. an unrealized loss of $4,000 on the income statement and short-term investments of $15,000 on the balance sheet.
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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