Question
As of August 31, 1999, Company White has the following investments in marketable securities: Acquisition August 31, 1999 Cost Market Value Trading Portfolio Company Blue
As of August 31, 1999, Company White has the following investments in marketable securities:
Acquisition August 31, 1999
Cost Market Value
Trading Portfolio
Company Blue Common Stock $120,000 $121,000
Available for Sale Portfolio
Company Sphinx Common Stock $385,000 $383,000
Hold-To-Maturity Portfolio
Company Dander Debentures $700,000 $698,000
Additional Information: All three investments were purchased during 1999. During 2000, Company White sold its investment in Company Blue for $119,000 and its investment in Company Spinx for $386,000. As of August, 2000, the market value of the investments in Company Dander Debentures was $699,000. Calculate the following (and be sure to identify whether a gain or loss):
A. Holding gain/loss recognized in the income statement in 1999
B. Holding gain/loss recognized in other comprehensive income in 1999
C. Holding gain/loss recognized in the income statement in 2000
D. Holding gain/loss recognized in other comprehensive income in 2000
E. Balance of accumulated other comprehensive income as of August 31, 2000
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