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solve correctly please A company paid $40,000 cash to purchase one Bitcoin on January 8, 2021, Bitcoin's price fell to $30,305 per coin on January
solve correctly please
A company paid $40,000 cash to purchase one Bitcoin on January 8, 2021, Bitcoin's price fell to $30,305 per coin on January 11, 2021, and recovered to $33,087 per coin on January 31, 2021. If these are the only events involving Bitcoin, Indicate which of the following the company would report in its financial statements on January 31, 2021. (Check all that apply.) Report $40,000 in the balance sheet as a current asset. Report $30,305 in the balance sheet as an intangible asset. Report $33,087 in the balance sheet as an intangible asset. Report $33,087 in the balance sheet as an investment in financial assets. Report \$9,695 in the income statement as an impairment loss. Report $6.913 in the income statement as an impairment lossStep by Step Solution
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