Question
DuBois Corporation purchased an available-for-sale investment in 1,100 shares of Southwest SuppliesSouthwest Supplies stock for $21 per share. On the next balance-sheet date, Southwest Supplies
DuBois Corporation purchased an available-for-sale investment in 1,100 shares of Southwest SuppliesSouthwest Supplies stock for $21 per share. On the next balance-sheet date, Southwest Supplies stock is quoted at $24 per share. DuBois' income statement should report
A) investments of $23100
B) unrealized loss of $3300
C) unrealized gain of $3300
D) nothing because investment has not been sold
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
2nd Canadian Edition
0176707123, 978-0176707125
