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Home Q & A Board Other Fields Homework Help Business Accounting
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yolomanolo yolomanolo
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5 years ago
Griffin buys and sells securities and typically classifies them as available for sale. On December 15, Griffin purchased $814,000 of Baker Corporation shares and elected the fair value option to account for the investment. As of December 31, the shares in Baker Corporation had a fair value of $862,000. In its December 31 financial statements, Griffin will report ________.
A) investment income of $48,000 in its income statement
B) other comprehensive income of $48,000
C) Investment in Baker Corporation of $814,000
D) accumulated other comprehensive income of $862,000
Textbook 
Intermediate Accounting

Intermediate Accounting


Edition: 1st
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leelleel
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yolomanolo Author
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5 years ago
Thank you for being such a great website leader! Your answer's right.
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