Colvis Corporation purchased an available-for-sale investment in 1,100 shares of Home Central shares for S30 per share. On the next balance-sheet date, Home Central shares are quoted at $34 per share. Assume tax rate of 20%. Colvis' should report O A. unrealized gain of $4,400 in other comprehensive income. O B. realized gain of $4,400 in other comprehensive income. O C. unrealized loss of $4,400 in the income statement O D. unrealized gain of $3.520 in other comprehensive income

Colvis Corporation purchased an available-for-sale investment in 1,100 shares of Home Central shares for S30 per share. On the next balance-sheet date, Home Central shares are quoted at $34 per share. Assume tax rate of 20%. Colvis' should report O A. unrealized gain of $4,400 in other comprehensive income. O B. realized gain of $4,400 in other comprehensive income. O C. unrealized loss of $4,400 in the income statement O D. unrealized gain of $3.520 in other comprehensive income

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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