Question
On January 1, Bargain Company's valuation allowance for trading investments account had a debit balance of $18,500. On December 31, the cost of the trading
On January 1, Bargain Company's valuation allowance for trading investments account had a debit balance of $18,500. On December 31, the cost of the trading securities portfolio is $80,000. The fair value is $100,000. Which of the following would Bargain Company report?
a.Unrealized Loss on Trading Investments of $1,500
b.Unrealized Gain on Trading Investments of $20,000
c.Unrealized Loss on Trading Investments of $20,000
d.Unrealized Gain on Trading Investments of $1,500
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Auditing Fundamentals In A South African Context
Authors: Gerrit Penning, Rika Butler, Pieter Von Wielligh, Frans Prinsloo
2nd Edition
0190749040, 978-0190749040
