CPA · Question 34 · Area II: Balance Sheet Accounts
Crystal Corp. has trading securities with the following information at year-end:<br/>- Security A: Cost $80,000, Fair value $75,000<br/>- Security B: Cost $60,000, Fair value $68,000<br/>- Security C: Cost $40,000, Fair value $45,000<br/><br/>What is the net impact on Crystal's net income from these trading securities?
Answer options:
$3,000 gain
$3,000 loss
$8,000 gain
No impact on net income
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