Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. selected best anwer( shows computations are requir

selected best anwer( shows computations are required) Yankton Company began the year without...

50.1K

Verified Solution

Question

Accounting

image
selected best anwer( shows computations are required)
Yankton Company began the year without an investment portfolio. During the year they purchased investments classified as available-for-sale securities at a cost of $13,000. At the end of the year, the market value of the securities was $11,000. The Yankton Company's financial statements for the current year should show a. a loss of $2,000 on the income statement and available-for-sale securities of $13,000 on the balance sheet b. no loss on the income statement and available-for-sale securities of $13,000 on the balance sheet c. no loss on the income statement, available-for-sale securities of $11.000 and an unrealized loss of $2,000 as a stockholders' equity adjustment on the balance sheet d. a loss of $2,000 on the income statement and temporary investments of $11,000 on the balance sheet

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

Medical Sciences
1.2K views

Condition : . Turner Syndrome (45, XO) in XO individual (compare with typical XX) 1.a) compare what...

Basic Math
1.2K views

U Store 1 Store 2 Store 3 Store 13 Store 14 A Store 2 Store...

Basic Math
1.2K views

The molar solubility of Ba3 PO4 2 is 8 89 x 10 9 M in...

Calculus
1.2K views

What is the smallest angle of this triangle 12 23 34 Round to the nearest...

Algebra
1.2K views

There were 800 farmers markets initially in the USA in 2012 In 2013 the number...

Accounting
1.2K views

Based on the data above, gross profit was: * $200,000 $295,000 $330,000 None of...

Accounting
1.2K views

Price Corporation shows the following ovethed information for the current period. Required: What are the...

Accounting
1.2K views

A university graduate bought a new car. The cash price is $ 41,500; he made...

Accounting
1.2K views

Treasury stock transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of...

Accounting
1.2K views

PROBLEM #1 Greenview Food Store developed the following information in recording its bank statement for...

Accounting
1.2K views

Please explain if the following statement is true or false: In the two-country period model...

Accounting
1.2K views

E9.5 (LO 2), AP The ledger of Costello Company at the end of the current...