Yankton Company began the year without an investment portfolio. During the year, it purchased investments classified as trading securities at a cost of $13,000. At the end of the year, the market value of the securities was $11,000. Yankton Company's financial statements for the current year should show Ca. no loss on the income statement, net trading securities of $11,000, and an unrealized loss of $2,000 as a stockholders' equity adjustment on the balance sheet b. no loss on the income statement and net trading securities of $13,000 on the balance sheet c. a loss of $2,000 on the income statement and net trading securities of $13,000 on the balance sheet Cd. a loss of $2,000 on the income statement and temporary investments of $11,000 on the balance sheet

Yankton Company began the year without an investment portfolio. During the year, it purchased investments classified as trading securities at a cost of $13,000. At the end of the year, the market value of the securities was $11,000. Yankton Company's financial statements for the current year should show Ca. no loss on the income statement, net trading securities of $11,000, and an unrealized loss of $2,000 as a stockholders' equity adjustment on the balance sheet b. no loss on the income statement and net trading securities of $13,000 on the balance sheet c. a loss of $2,000 on the income statement and net trading securities of $13,000 on the balance sheet Cd. a loss of $2,000 on the income statement and temporary investments of $11,000 on the balance sheet

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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