On August 8, 2007, ZZ, Inc. purchased 5,000 shares (8%) of EZ Company stock for $18 per
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On August 8, 2007, ZZ, Inc. purchased 5,000 shares (8%) of EZ Company stock for $18 per share.
The following information relates to the EZ Company stock:
▪ EZ Company paid a dividend of $2 per share on October 1, 2007
▪ The EZ Company stock was valued at $14 per share on December 31, 2007
▪ ZZ, Inc. sold 3,000 shares of the EZ Company stock for $22 per share on May 18, 2008
▪ EZ Company paid a dividend of $2 per share on October 1, 2008
▪ The EZ Company stock was valued at $19 per share on December 31, 2008
Calculate the amount of the unrealized loss shown on ZZ, Inc.'s 2007 income statement.
Expert Answer:
Related Book For 
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
Posted Date:
