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The following data pertain to Tyne Company's investments in marketable equity securities. (Assume that all securities were held throughout 2019 and 2020.) Note that the
The following data pertain to Tyne Company's investments in marketable equity securities. (Assume that all securities were held throughout 2019 and 2020.) Note that the new FASB guidance on accounting for minority-passive investments is effective beginning in 2018. Under the prior rules, Alpha was a trading security and Beta was an available-for-sale security. Beta's fair value at 12/31/17 was $135,000. Fair value Cost 12/31/20 12/31/19 Alpha Co. Beta Co. 150,000 155,000 150,000 130,000 100,000 120,000 Required: 1. What amount should Tyne report as unrealized holding gain (loss) in its 2020 income statement? 2. What amount should Tyne report as net unrealized gain (loss) on available-for-sale securities at December 31, 2020, in its statement of stockholders' equity? Ignore tax effects. Answer is not complete. 1.Unrealized holding gain (loss) 2. Net Unrealized gain (loss) gain loss
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