Question: Q36 give correct answer in 10 mins i will thumb up thanks QUESTION 36 Foley Corporation's trading securities portfolio at the end of the year

Q36 give correct answer in 10 mins i will thumb up

Q36 give correct answer in 10 mins i will thumb up thanks

QUESTION 36 Foley Corporation's trading securities portfolio at the end of the year is as follows: Security Cost Fair Value Ordinary Share A 10,000 12,000 Ordinary Share B 9,000 5,000 19,000 17,000 Foley subsequently sells Share B for 12,000. What entry is made to record the sale? O Cash.. 12,000 Share Investments. 12,000 O Cash. 12,000 Fair Value Adjustment.. Share Investments...... O Cash. 12,000 Share Investments.. Gain on Sale of Share Investments. O Cash 12,000 Share Investments. Gain on Sale of Share Investments. 3,000 9,000 9,000 3,000 5,000 7,000

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