Don Financial buys and sells securities which it classifies as available-for-sale. On December 31,...

90.2K

Verified Solution

Question

Accounting

Don Financial buys and sells securities which it classifies as available-for-sale. On December 31, 2021, a bond had an amortized cost of $90,000 and fair value of $93,000. Differences between cost and
market values are considered to be temporary. The change in market value was properly accounted for at December 31,2021.
On December 31,2022, the bond has an amortized cost of $90,000 and the bond's fair value is now $89,000. The amount included in 2022 other comprehensive income as a result of this
investment would be:

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students