Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. gamma corporation buys and sells debt securities w

Gamma Corporation buys and sells debt securities which it classifies as available-for-sale securities. The company's...

70.2K

Verified Solution

Question

Accounting

image

Gamma Corporation buys and sells debt securities which it classifies as available-for-sale securities. The company's fiscal year ends on December 31. On December 27, 2021. Gamma purchased Eastern Communications bonds at par for $781.000. At December 31. the bonds had a fair value of 802.000. On January 3, 2022, the bonds were sold for $812,000. The amount included in 2022 net income as a result of this investment would be: (Do not add dollar sign; do not add comma by yourself to your amount round the answer to the whole number; use minus sign if the amount is negative) 10000

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

Finance
1.2K views

6. In 2017, Alden Axle, Inc. had cash flows from investing activities of – $173,250, cash...

Basic Math
1.2K views

The area of a rectangle is 45 n, and the length of the rectangle is...

Basic Math
1.2K views

A line passes through the points (2, 10) and (5, 19). Find this line's equation...

Statistics
1.2K views

A standardized exam s scores are normally distributed In a recent year the mean test...

Calculus
1.2K views

This real world information can be modeled by the expression 15c 5d c represents how...

Calculus
1.2K views

Sketch a triangle that has acute angle COS 2 GOU SCD UI tantel Find the...

Calculus
1.2K views

Lo 4 3 2 5 to 3 NO T 25 2 3 4 S I...

Accounting
1.2K views

13- Inventory shrinkage refers to Select one: a. Loss of inventory...

Accounting
1.2K views

Cullumber Inc has evaluated its process of calculating estimates of uncollectible accounts receivable. In the...

Accounting
1.2K views

HELP Required information [The following information applies to the...

Accounting
1.2K views

Cardwell Realty Limited has 20,000 common shares issued and outstanding at January 1, 20X4. On...

Finance
1.2K views

Ranpreet is advised by his client of an inheritance that she will receive that will...