Answered step by step
Verified Expert Solution
Link Copied!
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

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and managerial accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

1st edition

111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114

More Books

Students explore these related Accounting questions

Question

how to draw a cable car in java

Answered: 3 weeks ago