Business, 19.02.2020 00:21, sierravick123owr441

Data regarding Rock Corp.’s available-for-sale securities follows:

Cost Market Value
December 31, 20X7 $ 80,000 $ 65,000
December 31, 20X8 $ 80,000 $ 90,000

Differences between cost and market values are considered temporary. Rock does not elect the fair value option of accounting for available-for-sale securities.

Rock’s accumulated other comprehensive income would be

Multiple Choice

a. $0

b. $10,000

c. $25,000

d. $15,000

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Answers: 3

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Data regarding Rock Corp.’s available-for-sale securities follows:

Cost Market Value