Sefo Co. purchased some bonds as a long-term investment for a total of $1,200,000. up will sell
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Question:
Sefo Co. purchased some bonds as a long-term investment for a total of $1,200,000. up will sell the bonds if the price increases at least 10%. on December 31, 2019, their bonds had a fair value of $1,160,000. At December 31, 2020, the fair value of the securities was $1,190,000. what account should up report on its 2020 income statement as a result of the increase its the fair value of the investments?
A. $0
B. Unrealized loss of $40,000
C. Realized loss of $10,000
D. Unrealized gain of $30,000
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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