Libby Company purchased equity securities for $170,000 and classified them as available-for-sale securities. At the end of
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Question:
a-The investment in available-for-sale securities would be reported in the balance sheet at its $175,000 market value and an unrealized holding gain would be reported in other comprehensive income.
b-An unrealized holding gain would be reported in other comprehensive income.
c-The investment in available-for sale securities would be reported in the balance sheet at its $175,000 market value.
d-The investment in available-for-sale securities would be reported in the balance sheet at its $170,000 cost.
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