Missing statement items, trading investments OBJ. 4 JED Capital Inc. makes investments in trading securities. Selected income
Question:
Missing statement items, trading investments OBJ. 4 JED Capital Inc. makes investments in trading securities. Selected income statement items for the years ended December 31, 2016 and 2017, plus selected items from comparative balance sheets, are as follows:
JED Capital Inc.
Selected Income Statement Items For the Years Ended December 31, 2016 and 2017 2016 2017 Operating income
a. e.
Unrealized gain (loss)
b. $(11,000)
Net income
c. 28,000 JED Capital Inc.
Selected Balance Sheet Items December 31, 2015, 2016, and 2017 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Trading investments, at cost $144,000 $168,000 $205,000 Valuation allowance for trading investments (12,000) 17,000 g.
Trading investments, at fair value
d. f. h.
Retained earnings $210,000 $245,000 i.
There were no dividends.
Determine the missing lettered items.
Step by Step Answer:
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac