Question
The data on the available-for-sale securities of Rock Corp. are as follows: Cost Market value December 31, 20X7 ps 80.000 ps 65,000 December 31, 20X8
The data on the available-for-sale securities of Rock Corp. are as follows:
| Cost | Market value | ||||||
| December 31, 20X7 | ps | 80.000 | ps | 65,000 | |||
| December 31, 20X8 | ps | 80.000 | ps | 90.000 | |||
Differences between cost and market values are considered temporary. Rock does not elect the fair value option of accounting for available-for-sale securities.
What would be Rock's other cumulative integral utility?
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Advanced Financial Accounting
Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay
7th edition
132928930, 978-0132928939
