Question
Santos Corporation has the following portfolio of stock investments (holdings less than 20%) as of December 31, 2022. Security Cost Fair Value A $17,000 $16,000
Santos Corporation has the following portfolio of stock investments (holdings less than 20%) as of December 31, 2022.
| Security | Cost | Fair Value | ||
|---|---|---|---|---|
| A | $17,000 | $16,000 | ||
| B | 23,000 | 25,000 | ||
| C | 32,000 | 28,000 | ||
| $72,000 | $69,000 |
On January 22, 2023, Santos Corporation sold security C for $30,000. Indicate the balance sheet and income statement presentation of the fair value data for the Santos Corporation at December 31, 2022. type your explanation here
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Accounting Principles
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
IFRS global edition
1-119-41959-4, 470534796, 9780470534793, 9781119419594 , 978-1119419617
