Question
Cullumber Corporation has the following investment which was held throughout 20212022: Fair Value Cost 12/31/21 12/31/22 Equity investment $996000 $1308000 $1260000 What amount of gain
Cullumber Corporation has the following investment which was held throughout 20212022:
| Fair Value | ||||||
| Cost | 12/31/21 | 12/31/22 | ||||
| Equity investment | $996000 | $1308000 | $1260000 | |||
What amount of gain or loss would Cullumber Corporation report in its income statement for the year ended December 31, 2022 related to its investment, if the fair value method of accounting was used?
a. $264000 gain.
b. $312000 gain.
c. $48000 gain.
d. $48000 loss.
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Sound Investing, Chapter 22 - Management Discussion And Analysis
Authors: Kate Mooney
1st Edition
007171944X, 9780071719445
