ValleyView Company ValleyView Company acquires common stock of Kansas Enterprises for $400,000 on November 1, 2013, and designates this investment as available-for-sale.The fair value of these shares is $435,000 on December 31, 2013.ValleyView sells these shares on August 15, 2014, for $480,000.
(Refer to ValleyView.) The total income from the purchase and sale of these securities is _____ reported _____
A) $80,000; in the year of sale.
B) $80,000; as they occur.
C) $35,000; in the year of sale.
D) $35,000; as they occur.
E) $45,000; in the year of sale
Correct Answer:
Verified
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