Question
On its December 31, 2013, balance sheet, Quinn Co. reported its investment in availablefor- sale securities, which had cost $600,000, at fair value of $550,000.
On its December 31, 2013, balance sheet, Quinn Co. reported its investment in availablefor-
sale securities, which had cost $600,000, at fair value of $550,000. At December 31,
2014, the fair value of the securities was $585,000. What should Quinn report on its 2014
income statement as a result of the increase in fair value of the investments in 2014?
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Accounting Fraud, Maneuvering And Manipulation, Past And Present
Authors: Gary Giroux
2nd Edition
1947098748, 9781947098749
