45. On its December 31, 2010, balance sheet, Trump Co. reported its FVTOCI investments at...
60.1K
Verified Solution
Link Copied!
Question
Accounting
45. On its December 31, 2010, balance sheet, Trump Co. reported its FVTOCI investments at a cost of 600,000, at fair value of 550,000. At December 31, 2011, the fair value of the securities was 585,000. What should Trump report on its 2011 statement of profit and loss as a result of the increase in the fair value of the investments in 2011?A. 0.B. loss of 15,000.C. gain of 35,000.D. loss of 50,000 and gain of 35,000.
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!
