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 journal entry to measure securities available-for-sale on December 31, 2013 is:
a. Unrealized Holding Gain on
Securities Available-for-Sale................35,000
Marketable Securities.....................................35,000
b. Unrealized Holding Gain on
Securities Available-for-Sale................35,000
Common Stock...............................................35,000
c. Common Stock....................................... 35,000
Unrealized Holding Gain on
Securities Available-for-Sale.......................35,000
d. Marketable Securities............................ 35,000
Cash.............................................................. 35,000
e. Marketable Securities........................... 35,000
Unrealized Holding Gain on
Securities Available-for-Sale......................35,000
E
You might also like to view...
Allowing a company to organize all its videos in one place, making it easy for visitors to get automatic video updates is an example of what?
A) Firehouse effect B) Community sites C) User generated content D) Promotional messaging E) Branded channeling
Given forecast errors of 6, 4, 0 and -2, what is the mean squared error?
A) 14 B) 18.67 C) 16 D) 12 E) none of the above