Question
A firm purchased available-for-sale security investments for $200,000. During the year, the firm received dividends totaling $12,000 from these stock investments. At year end, the
A firm purchased available-for-sale security investments for $200,000. During the year, the firm received dividends totaling $12,000 from these stock investments. At year end, the stock portfolio had a quoted market value of $215,000. The increase in net income for the year (ignore income taxes) from these investments is:
Select one:
A. $12,000
B. $ 8,000
C. $15,000
D. $27,000
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Financial Accounting A Critical Approach
Authors: John Friedlan
3rd Edition
0070967601, 978-0070967601
