Answered step by step
Verified Expert Solution
Question
1 Approved Answer
During 2021 Wildhorse Company purchased 9700 shares of Ayayai Inc. for $27 per share. During the year Wildhorse Company sold 2350 shares of Ayayai, Inc.
During 2021 Wildhorse Company purchased 9700 shares of Ayayai Inc. for $27 per share. During the year Wildhorse Company sold 2350 shares of Ayayai, Inc. for $32 per share. At December 31, 2021 the market price of Ayayai, Inc.s stock was $25 per share. What is the total amount of gain/(loss) that Wildhorse Company will report in its income statement for the year ended December 31, 2021 related to its investment in Ayayai, Inc. stock?
A) 11750
B) -19400
C) -7650
D) -2950
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started