ACCOUNTING-Available-for-Sale Securities
QUESTION
Available-for-Sale SecuritiesAt the beginning of 2013, Ace Company had the following portfolio of investments in available-for-sale securities (common stock):SecurityCost12/31/12Fair ValueA$21,900$27,900B34,00031,500Totals$55,900$59,400During 2013 the following transactions occurred:May 3Purchased C securities (common stock) for $15,600.July 16Sold all of the A securities for $27,900.Dec. 31Received dividends of $700 on the B and C securities, for which the following information was available:Security12/31/13Fair ValueB$35,700C17,600I just cannot figure out one part which is …..What is the balance in the Unrealized Holding Gain/Loss account on December 31, 2013?Please help!
ANSWER:
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