At December 31, 2017, Gregson Inc. has these data on its security investments: Security Cost Fair Value 12/31/17 Trading $ 280,000 $344,000 250,000 Non-trading 274,000 If the non-trading securities are held as long-term investments, which of the following will be recorded to adjust the securities to fair value? O a. Fair Value Adjustment-Trading... 64,000 Unrealized Gain-Income. 64,000 Unrealized Gain or Loss-Equity.. 24,000 Fair Value Adjustment-Non-Trading. 24,000 24,000 Unrealized Gain-Income.. Ob. Unrealized Loss-Income. Securities. Oc. Securities d. Unrealized Gain-Income Unrealized Gain-Income.. ..40,000 40,000 4,000 ..28,000 64.000

At December 31, 2017, Gregson Inc. has these data on its security investments: Security Cost Fair Value 12/31/17 Trading $ 280,000 $344,000 250,000 Non-trading 274,000 If the non-trading securities are held as long-term investments, which of the following will be recorded to adjust the securities to fair value? O a. Fair Value Adjustment-Trading... 64,000 Unrealized Gain-Income. 64,000 Unrealized Gain or Loss-Equity.. 24,000 Fair Value Adjustment-Non-Trading. 24,000 24,000 Unrealized Gain-Income.. Ob. Unrealized Loss-Income. Securities. Oc. Securities d. Unrealized Gain-Income Unrealized Gain-Income.. ..40,000 40,000 4,000 ..28,000 64.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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