Asked by Jackson Levine on Jun 11, 2024
Verified
Assume that the Roy Company stock was sold during 2017 for $31,000.The proper accounting recognition at the date of sale was
A) an unrealized loss of $1,000.
B) a realized gain of $7,000.
C) a realized gain of $6,000.
D) a realized loss of $1,000.
Unrealized Loss
A loss that results from holding onto an asset that has decreased in price, not yet realized through selling.
Realized Gain
The profit made from the sale of an asset or investment which has been sold for more than its purchase price.
Market Value
The present rate at which a good or service is available for purchase or sale in the open marketplace.
- Acquire knowledge on discerning and calculating unrealized and realized profits or deficits in investments.
Verified Answer
Learning Objectives
- Acquire knowledge on discerning and calculating unrealized and realized profits or deficits in investments.
Related questions
Yoga Copurchased 15% of Glow Company's Outstanding Bonds During 2019 ...
Stewart Corporation's Balance Sheet at December 31 2016 Showed the ...
An Unrealized Loss Account on Available-For-Sale Securities Is ...
On March 15,Alan Company Purchased 10% of Cameo Corp ...
On January 1, Saskatoon Corporation Purchased as a Trading Investment ...