Question
On its December 31, 2017, balance sheet, Pharoah Company reported its investment in equity securities, which had cost $520000, at fair value of $496000. At
On its December 31, 2017, balance sheet, Pharoah Company reported its investment in equity securities, which had cost $520000, at fair value of $496000. At December 31, 2018, the fair value of the securities was $513000. What should Pharoah report on its 2018 income statement as a result of the increase in fair value of the investments in 2018?
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Cadmus Operational Auditing W R Institute Of Internal Auditors Professional Books Series
Authors: David S. Kowalczyk
1st Edition
047182660X, 978-0471826606
