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podryga [215]
3 years ago
5

At the end of year 8, Shore Co. held trading securities that cost $17,500 and which had a year-end market value of $19,000. All

of these securities were sold during year 9 for $22,000. For the year ended on December 31, year 8, Shore should report a gain of
Business
1 answer:
ArbitrLikvidat [17]3 years ago
3 0

Answer:

$1,500

Explanation:

Calculation to determine what Shore should report as a gain

Using this formula

Unrealized gain=Market value-Trading securities value

Let plug in the formula

Unrealized gain=$19,000-$17,500

Unrealized gain=$1,500

Therefore Shore should report a gain of $1,500

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