Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

K Company has the following securities in its portfolio of equity securities on December 31, 2021: Cost Fair Value 5,000 shares of T Corp., Common

image text in transcribed

K Company has the following securities in its portfolio of equity securities on December 31, 2021: Cost Fair Value 5,000 shares of T Corp., Common 151,000 139,000 10,000 shares of G Corp., Common 184,000 183,000 All of the securities had been purchased in 2021. In 2022, K Company completed the following securities transactions: March 1: Sold 5,000 shares of T Corp., Common @ $32 less fees of $1,500. April 1: Bought 600 shares of W Corp., Common @ $45 plus fees of $550. The K Company portfolio of equity securities appeared as follows on December 31, 2022: Cost Fair Value 10,000 shares of G Corp., Common 184,000 195,500 600 shares of W. Corp, Common 27,550 25,500 . What amount of unrealized gain or loss did K company recognize in 2022? Note: Please enter a gain as a positive number and a loss as a negative number

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

Step: 3

blur-text-image

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

Dynamical Corporate Finance

Authors: Umberto Sagliaschi, Roberto Savona

1st Edition

3030778525, 9783030778521

More Books

Students also viewed these Accounting questions