Question
The Hairbus Company has a $30,000 realized gain on a financial asset and a $10,000 unrealized loss on a financial liability.Where would Hairbus Company report
The Hairbus Company has a $30,000 realized gain on a financial asset and a $10,000 unrealized loss on a financial liability.Where would Hairbus Company report these transactions?
a.Only in the stockholders' equity section of the Balance Sheet.
b.Financial Assets Financial Liabilities would be adjusted.The gain would be recognized on a before tax basis on the income statement.The loss would be an adjustment found ijn other comprehensive income.
c.Only on the balance sheet as adjustments to current assets and current liabilities.
d.only in non-current assets and liabilities on the Balance Sheet
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