On December 31, Year 3, Ott Co. had investments in marketable equity securities as follows: Cost Fair
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Question:
On December 31, Year 3, Ott Co. had investments in marketable equity securities as follows:
| Cost | Fair value | |
| Man Co. | $10,000 | $8,000 |
| Kemo, Inc. | 9,000 | 11,000 |
| Fenn Corp. | 11,000 | 9,000 |
Ownership in each security represents less than 20% of the outstanding stock. What amounts, related to these investments, would Ott report on its year-end balance sheet and income statement?
Expert Answer:
On Ott Cos yearend balance sheet and income statement the amounts related to these investments would ... View the full answer
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