Investment Market Value
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SunCorp had investments in marketable equity securities costing 650,000 on June 30, year 2. Sun Corp decided to hold the investments indefinitely and accordingly reclassified them from trading to available-for-sale on that date. The investments market value was 575,000 at December 31, year 1, 530,000 at June 30, year 2 and 490,000 at December 31 year 2.
What amount should SunCorp report as net unrealized loss on available-for-sale marketable equity securities in its year 2 statement of stockholders' equity?
a) 40,000
b) 45,000
c) 85,000
d) 160,000
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Solution Summary
The expert determines the amount SunCorp should report as net unrealized loss on available-for-sale marketable equity securities in its year two statement of stockholder' equity.
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The answer to this question is:
B. $45,000
This is because when marketable equity ...
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