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Satellite Corporation has the following investments at December 31, 2020: (Click the icon to view the information.) If Satellite irrevocably elected to classify its investment
Satellite Corporation has the following investments at December 31, 2020: (Click the icon to view the information.) If Satellite irrevocably elected to classify its investment in Davenport at fair value through OCI, what amount will be reported for the investment at September 30, 2020? Information - X OA. $20,000 B. $19,000 OC. $1,000 OD. $18,000 Shares of ABC Historical Cost Fair Value Fair Value Sept, Fair Value Sept. 30, 2019 30, 2020 Dec. 31, 2020 $25,000 $15,000 $25,000 $30,000 Bonds of Brooke 10,000 12,000 11,000 12,500 (purchased at par value) Shares of Cooks Town 12,000 18,000 16,000 16,000 (Satellite holds 35% of the outstanding voting shares of Cooks Town) Shares of Davenport 18,000 20,000 19,000 19,000
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