Business, 04.05.2021 01:00 pressure772

Rhoads purchased common shares of Company A and B for $10,000 and $10,000, respectively on 12/15. Rhoads intends to sell these securities within 30 days. At 12/31, Investments in Company A & B had a fair value of $9,000 and $18,000, respectively. Assuming Rhoads has no significant influence over the investee companies, what is the unrealized gain or loss for these securities and how is it reported? A. Unrealized Loss of $1,000, Unrealized Gain of $8,000, both reported as part of Other Comprehensive Income. B. Unrealized Gain of $7,000, reported as part of Net Income. C. Unrealized Gain of $7,000, reported as part of Other Comprehensive Income. D. Unrealized Loss of $1,000, Unrealized Gain of $8,000, both reported as part of Net Income.

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Rhoads purchased common shares of Company A and B for $10,000 and $10,000, respectively on 12/15....

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