Question
Data regarding Rock Corp.s available-for-sale securities follows: Cost Market Value December 31, year 8 $ 80,000 $ 65,000 December 31, year 9 $ 80,000 $
Data regarding Rock Corp.s available-for-sale securities follows:
| Cost | Market Value | ||||||
| December 31, year 8 | $ | 80,000 | $ | 65,000 | |||
| December 31, year 9 | $ | 80,000 | $ | 90,000 | |||
Differences between cost and market values are considered temporary. Rock does not elect the fair value option of accounting for available-for-sale securities. By what amount should Rock increase (credit) its year 9 other comprehensive income?
rev: 12_06_2019_QC_CS-192903
Multiple Choice
-
$25,000
-
$10,000
-
$0
-
$15,000
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Accounting
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
28th Edition
1337902683, 978-1337902687
