Question
Fred has the following data r e garding an available for sale debt security: YEAR ONE PURCHASE PRICE 2,000 12/31 YEAR ONE FAIR MARKET VALUE
Fred has the following data r e garding an available for sale debt security:
| YEAR ONE PURCHASE PRICE | 2,000 |
| 12/31 YEAR ONE FAIR MARKET VALUE | 3,000 |
| YEAR TWO SALES PRICE | 5,000 |
What is the amount of debit entry to OCI when instrument is sold in year 2?
What is the amount of recognized gain on income statement when instrument is sold in year 2?
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CAT Paper 8 Implementing Audit Procedures
Authors: BPP Professional Education
1st Edition
0751723126, 978-0751723120
