Edwards Company began business in February of 2010. During the year, Edwards purchased the three trading securities listed below. On its December 31, 2010, balance sheet, Edwards appropriately reported a $4,000 credit balance in its Market Adjustment--Trading Securities account. There was no change during 2011 in the composition of Edward's portfolio of trading securities. Pertinent data are as follows:

What amount of loss on these securities should be included in Edward's income statement for the year ended December 31, 2011?

Question

Edwards Company began business in February of 2010. During the year, Edwards purchased the three trading securities listed below. On its December 31, 2010, balance sheet, Edwards appropriately reported a $4,000 credit balance in its Market Adjustment--Trading Securities account. There was no change during 2011 in the composition of Edward's portfolio of trading securities. Pertinent data are as follows:

What amount of loss on these securities should be included in Edward's income statement for the year ended December 31, 2011?

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The Answer of Edwards Company began business in February of 2010. During the year, Edwards purchased the three trading securities listed below. On its December 31, 2010, balance sheet, Edwards appropriately reported a $4,000 credit balance in its Market Adjustment--Trading Securities account. There was no change during 2011 in the composition of Edward's portfolio of trading securities. Pertinent data are as follows:

What amount of loss on these securities should be included in Edward's income statement for the year ended December 31, 2011?

Edwards Company Began Business in February of 2010