EMK Corp. is holding two bonds to maturity, both of which have a book value of $132,000. At the end of the fiscal year, the fair market value of Bond A is SI 18,000, and the fair market value of Bond B is SI36,000. What is the unrealized gain or loss reported on the financial statements on these two bonds? a. Unrealized gain of S4.000 b. Unrealized loss of S 10,000 c. Unrealized loss of $ 14,000 d. No unrealized gain or loss is reported Refer to the following information for Multiple-Choice Questions A2S and A2-9: Shackley Inc. owns three available-for-sale debt securities which have yielded the following fiscal year end results: A. Interest income: $350 B. Gain on sale: $2,000 C. Unrealized loss: S600
Cornerstones of Financial Accounti...
Cornerstones of Financial Accounti...
Solutions
EMK Corp. is holding two bonds to maturity, both of which have a book value of $132,000. At the end of the fiscal year, the fair market value of Bond A is SI 18,000, and the fair market value of Bond B is SI36,000. What is the unrealized gain or loss reported on the financial statements on these two bonds?
a. Unrealized gain of S4.000
b. Unrealized loss of S 10,000
c. Unrealized loss of $ 14,000
d. No unrealized gain or loss is reported
Refer to the following information for Multiple-Choice Questions A2S and A2-9:
Shackley Inc. owns three available-for-sale debt securities which have yielded the following fiscal year end results:
A. Interest income: $350
B. Gain on sale: $2,000
C. Unrealized loss: S600
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