A company has shares in 3M Company stock that it originally bought for $100,000. On...
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Accounting
A company has shares in 3M Company stock that it originally bought for $100,000. On 3/31/2013, this investment was valued at $130,000 on the balance sheet. On 4/4/2013, the company sells the stock for $110,000. The company accounts for this investment using the Available-for-Sale method
How will this transaction show up on the income statement?
Gain on sale of Investments of $20,000
Loss on sale of Investments of $20,000
Loss on sale of Investments of $10,000
It will not affect the income statement
Gain on sale of Investments of $10,000
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