36. On January 1, 2017, Blanton Company's Valuation Allowance for Trading Investments! account has a...
50.1K
Verified Solution
Link Copied!
Question
Accounting
36. On January 1, 2017, Blanton Company's Valuation Allowance for Trading Investments! account has a debit balance of $22,500. On December 31, 2017, the cost of the trading securities portfolio was $80,000. The fair value was $98,000. Which of the following would Blanton report on the income statement for 2017? a. an Unrealized Loss on Trading Investments of $4,500. b. an Unrealized Gain on Trading Investments of $4.500. c. an Unrealized Gain on Trading Investments of S18,000. d. an Unrealized Loss on Trading Investments of $18.000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
