Trading securities purchased for $400,000 were valued at $410,000 at the end of the year. The adjusting entry to record this difference included a credit to:
A) Retained Earnings.
B) Unrealized Gain on Investments.
C) Short-term Investments.
D) none of the accounts. No adjusting entry is required.
Correct Answer:
Verified
Q24: When a company receives a cash dividend
Q25: Realized gains and losses occur when:
A)the investment
Q25: When a company sells a trading investment,
Q26: Investments in trading securities are reported on
Q27: Unrealized gains and losses occur when:
A)the investment
Q29: Trading securities purchased in 2010 for $85,000
Q31: During the current year, The Hampton Company
Q32: Unrealized gains or losses on trading securities
Q33: The accounts receivable account in the general
Q55: Accounts (trade)receivables are amounts to be collected
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