Subject: accounting On its December 31, 2024, balance sheet, Pharoah Company reported its investment in equity securities, which cost $640000, at fairvalue of $592000. At December 31, 2025, the fair value of the securities was $621000. Which of the following will Pharoah report inits 2025 financial statements?Investment in Equity Securities at fair value of $621000 and an unrealized holding loss of $19000 in net incomeInvestment in Equity Securities at fair value of $621000 and an unrealized holding gain of $29000 in other comprehensiveincomeInvestment in Equity Securities at fair value of $621000 and an unrealized holding gain of $29000 in net incomeInvestment in Equity Securities at cost of $640000 plus Fair Value Adjustment of $19000 and an unrealized holding loss of$19000 in net incomeSave for LaterAttempts: 0 of 1 used Submit Answer

When reporting equity securities classified as available-for-sale, any unrealized gains or losses…

Answered: On its December 31, 2024, balance…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 16E

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On its December 31, 2024, balance sheet, Pharoah Company reported it value of $592000. At December 31, 2025, the fair value of the securities its 2025 financial statements? in Equi of $621000 sun