Kingbird, Inc. has an investment in trading securities of $141000. This investment experienced an unrealized...

70.2K

Verified Solution

Question

Accounting

Kingbird, Inc. has an investment in trading securities of $141000. This investment experienced an unrealized loss of $7100 during the current year. Assuming a 32% tax rate, the amount of this loss that would reported as part of other comprehensive income would be: None. $95880 loss. $141000 loss. $45120 loss.

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