Question
On October 12, 2017, Neptune Corporation invested $700,000 in short-term available-for-sale marketable securities. The market value of this investment was $730,000 at December 31, 2017,
On October 12, 2017, Neptune Corporation invested $700,000 in short-term available-for-sale marketable securities. The market value of this investment was $730,000 at December 31, 2017, but had slipped to $725,000 by December 31, 2018.
In financial statements prepared on December 31, 2017, Neptune Corporation reports:
a.The asset Investments in Marketable Securities at $730,000, and a $30,000 Unrealized Holding Gain included in total stockholders' equity.
b.The asset Investments in Marketable Securities at $700,000 with footnote disclosure of the market value of $730,000.
c.The asset Investments in Marketable Securities at $730,000, and a $30,000 gain recognized in the income statement.
d. The asset Investments in Marketable Securities at $700,000, and a $30,000 Unrealized Holding Gain included in total stockholders' equity.
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The Volunteers Audit Guide For Churches And Other Non Profits A Step By Step Workbook For Internal Reviews Of Non Profit Organizations
Authors: Edd Breeden
1st Edition
1079582401, 978-1079582406
