Question
Question 22 2 pts Warbler Company purchased $20,000 of 3%, 4-year Microsoft bonds on November 1st at face value. On December 31, the market
Question 22 2 pts Warbler Company purchased $20,000 of 3%, 4-year Microsoft bonds on November 1st at face value. On December 31, the market value of these bonds is $19,000. If Warbler Company treated this investment as an available-for-sale security, what would be the impact the balance sheet and income statement from the change in market value on December 31? Check all that apply. Equity would increase by $1K Net income would decrease by $1K There is no impact to the balance sheet on this day. Equity would decrease by $1K Net income would increase by $1K Assets would decrease by $1K
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