Raise in the fair value of the investments, Accounting Basics

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Raise in the fair value of the investments

On its December 31, 2007, balance sheet, Quinn Co. reported its investment in available-for-sale securities, which had cost $600,000, at fair value of $550,000. At December 31, 2008, the fair value of the securities was $585,000. What should Quinn report on its 2008 income statement as a result of the increase in fair value of the investments in 2008?

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Accounting Basics: Raise in the fair value of the investments

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Accounting Basics: Raise in the fair value of the investments

Reference No:- TGS095224

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Stern taxable income for the year

Q : Average days in inventory concept

Q : Annual financial statements concepts

Q : Amount of bond interest expense to be recognized

Q : Raise in the fair value of the investments

Q : Contribution margin format for external reporting

Q : Amount of pension expense to be reported

Q : Information related to the pension plan

Q : Amount reported as the total pension liability

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Raise in the fair value of the investments

Reference No:- TGS095224

Recent Questions Asked Accounting Basics

Q : Stern taxable income for the year

Q : Average days in inventory concept

Q : Annual financial statements concepts

Q : Amount of bond interest expense to be recognized

Q : Raise in the fair value of the investments

Q : Contribution margin format for external reporting

Q : Amount of pension expense to be reported

Q : Information related to the pension plan

Q : Amount reported as the total pension liability

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