Brandy Corporation's Trading Portfolio at the End of the Year

question 139

Short Answer

Brandy Corporation's trading portfolio at the end of the year is as follows: $\begin{array}{lrr}\text {Security }&\text {Cost }&\text {Fair Value }\\\text { Common Stock C } & \$ 10,000 & \$ 12,000 \\\text { Common Stock D } & 8,000 & 5,000\\&\$18,000&\$17,000\end{array}$ Brandy subsequently sells Stock D for $10,000. What entry is made to record the sale? a.
$\begin{array}{llcc} \text {Cash } &10,000\\ \text {Stock Investments }&&10,000 \\\end{array}$


b.
$\begin{array}{llcc} \text { Cash} & 10,000\\ \text {Fair Value Adjustment Trading } &&2,000\\ \text { Stock Investments}&&8,000 \\\end{array}$


c.
$\begin{array}{lrr} \text {Cash } &10,000\\ \text { Stock Investments } &&8,000\\ \text {Gain on Sale of Stock Investments } &&2,000\\\end{array}$

d.
$\begin{array}{lrr} \text { Cash} &10,000\\ \text { Stock Investments } &&5,000\\ \text { Gain on Sale of Stock Investments } &&5,000\\\end{array}$

Comprehend the American Psychological Association's perspective on intelligence.

Understand Robert Sternberg's Triarchic theory of intelligence.

Grasp the concept of intelligence quotient (IQ) and its historical development.

Distinguish between different types of knowledge as per Sternberg.

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Definitions:

Negative Attitude

A general disposition to evaluate people, objects, or situations unfavorably or with pessimism.

Social Identity Theory

A psychological theory that examines how a person's self-concept is based on their membership within social groups, influencing their behavior and attitudes.

Stereotype Threat Theory

The theory that people are likely to experience anxiety when they are at risk of confirming a negative stereotype about their social group, which can impair their performance.

Social Identity Theory

A theory that explains how individuals categorize themselves and others into various social groups, leading to a sense of identity based on group membership.