1. When the firm sold the Available-for-Sale Securities, the firms needs to______________.

Select one or more:

a. Reclassify the accumulated other comprehensive income to gain or loss

b. Credit- Investment in Available for Sale Securities

c. Record a gain or loss on sale of the securities

d. All of other three choices are correct

2.

The company purchased available for sale securities for $100,000. The price became 105,000 at the end of the year. What is the accounting treatment at the end of the year?

Select one or more:

a. Record the unrealized loss $5,000 in Other Comprehensive Income

b. Record as net income $5,000

c. Record the unrealized gain $5,000 in Other Comprehensive Income

d. Report in income statement as gain $5,000