Question
Hawk Corporation purchased 10,000 Diamond Corporation bonds in 2018 for $54 per bond and classified the investment as securities available-for-sale. The value of the Diamond
Hawk Corporation purchased 10,000 Diamond Corporation bonds in 2018 for $54 per bond and classified the investment as securities available-for-sale. The value of the Diamond investment was $83 per bond on December 31, 2019, and $97 per bond on December 31, 2020. During 2021, Hawk sold all of its Diamond investment at $147 per bond. In its 2021 income statement, Hawk would report:
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Accounting Fundamentals For Health Care Management
Authors: Steven A. Finkler, David M. Ward, Thad Calabrese
3rd Edition
1284124932, 9781284124934
