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gtnhenbr [62]
3 years ago
14

A non-governmental, not-for-profit organization held the following investments: Investment Cost Fair value (beginning of the yea

r) Fair value (end of the year) Stock A (100 shares) $50 per share $45 $51 Stock B (200 shares) $40 per share $41 $49
What amount should be the total value of investments reported in the year-end statement of financial position?
a. $22,900
b. $24,800
c. $24,850
d. $23,800
Business
1 answer:
zysi [14]3 years ago
5 0

Answer:

c. $24,850

Explanation:

A non-governmental, not-for-profit organization held the following investments: Investment Cost Fair value (beginning of the year) Fair value (end of the year) Stock A (100 shares) $50 per share $45 $51 Stock B (200 shares) $40 per share $41 $49 ; Bonds Cost $9,000 Fair value (beginning of the year) Fair value (end of the year)$10,000 $9,950

The amount that should be the total value of investments reported in the year-end statement of financial position? will be the fair value of the investments at the end of the year becaue investments by financial reporting standards are carried at fair values unlike physical assets carried at costs

Stock A = 100 Shares x fair value end of year of $51 = 5,100

Stock B = 200 Shares x fair value end of year of $49 = 9,800

Bond @ Fair value end of year...........................................= 9,950

Total............................................................................................$24,850

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