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Title: Rhoads purchased common shares of Company A and B for $10,000 and $9,000, respectively on 12/15. ... Post by: Morgs on Jul 22, 2018 Rhoads purchased common shares of Company A and B for $10,000 and $9,000, respectively on 12/15. Rhoads intends to sell these securities within 30 days. At 12/31, Investments in Company A & B had a fair value of $9,000 and $17,000, respectively. Assuming this is the first trading investment for Rhoads, what is the unrealized gain or loss for these securities and how is it reported?
A) Unrealized Loss of $7,000, Unrealized Gain of $3,000, both reported as part of Net Income. B) Unrealized Gain of $7,000, reported as part of Other Comprehensive Income. C) Unrealized Loss of $7,000, Unrealized Gain of $3,000, both reported as part of Other Comprehensive Income. D) Unrealized Gain of $7,000, reported as part of Net Income. Title: Rhoads purchased common shares of Company A and B for $10,000 and $9,000, respectively on 12/15. ... Post by: drec92 on Jul 22, 2018 D
Title: Rhoads purchased common shares of Company A and B for $10,000 and $9,000, respectively on 12/15. ... Post by: Morgs on Jul 22, 2018 Brilliant
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