Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. hawk corporation purchased 10,000 diamond corporat

Hawk Corporation purchased 10,000 Diamond Corporation bonds in 2015 for $59 per bond and classified...

90.2K

Verified Solution

Question

Accounting

Hawk Corporation purchased 10,000 Diamond Corporation bonds in 2015 for $59 per bond and

classified the investment as securities available for sale. The value of the Diamond investment was

$80 per bond on December 31, 2016, and $102 on December 31, 2017. During 2018, Hawk sold all

of its Diamond investment at $148 per bond.

In its 2018 income statement, Hawk would report:

A gain of $890,000.

A loss of $430,000.

A gain of $1,320,000.

A gain of $460,000.

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!
Become a Member

Other questions asked by students

Q

In a population of interest, we know that, 77% drink coffee, and 23% drink tea. Assume...

Statistics
Q

Animals evolved certain traits in order to adapt to their environments. These traits inform their life...

Biology
Q

Jackson Corporation stock is selling for $45 per share. An investor is considering buying a call...

Finance
Q

Compare and contrast the four types of memory discussed in this week’s readings. The Sensory Memory,...

Psychology
Q

a. Solve 7x + 5 ? 3 (mod 19). b. State and prove the Chinese Remainder...

Advance Math
Q

Find the surface area and volume of each figure to the nearest tenth 8 m

Geometry
Q

ons Course Packet on break even points A manufacturer of We All Love Business Calculus...

Calculus
Q

In 2018, Amy and her spouse have net income for tax purposes of $50,000 and...

Accounting
Q

All of the following are ways to stay connected to the IRS through subscriptions EXCEPT:...

Accounting
Q

Mr. H. Salt purchased a 1/8 interest in a producing oil well for $45,000. Recoverable...

Accounting
Q

need help with A DEFERRED TAXES PROBLEM A Anderson Nails Inc....

Accounting
Q

DEBT TO CAPITAL RATIO Kaye's Kitchenware has a market/book ratio equal to 1. Its stock...

Finance