Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 7 of 10 ili View Policies Current Attempt in Progress Onits December 31, 2020, balance sheet, Blossom Company reported its investment in equity securities,

image text in transcribed
Question 7 of 10 ili View Policies Current Attempt in Progress Onits December 31, 2020, balance sheet, Blossom Company reported its investment in equity securities, which had cost $580000, at fair value of $544000. At December 31, 2021, the fair value of the securities was $567000. What should Blossom report on its 2021 income statement as a result of the increase in fair value of the investments in 2021? Realized gain of $23000. $0. Unrealized gain of $23000. Unrealized loss of $13000. eTextbook and Media Save for Later Attempts: 0 of 1 used Submit Answer Type here to search O RE D 32 ES

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ACC 120 Wake Tech Financial Accounting W Connect Plus Access

Authors: J. David Spiceland

1st Edition

1308168926, 978-1308168920

More Books

Students also viewed these Accounting questions

Question

In all probability, were likely to have a price increase.

Answered: 1 week ago