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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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10 years ago
On March 1, 2012, a not-for-profit organization received a donation of securities worth $4,500. When it prepared its financial statements at December 31, 2012, the securities had a fair value of $5,200. When it sold the securities on June 30, 2013, it received $4,600. The entity's accounting procedures call for reporting all unrealized and realized gains and losses in a single account. How should it report its gains and losses in 2012 and 2013?
      a.   no change in 2012; a gain of $100 in 2013
      b.   a gain of $100 in 2012; no change in 2013
      c.   a gain of $700 in 2012; a loss of $600 in 2013
      d.   no change in 2012; a loss of $600 in 2013
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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