In June, Potter Corp Paid $25,000 for 1,000 Shares of Weasley

question 24

Multiple Choice

In June, Potter Corp paid $25,000 for 1,000 shares of Weasley Corp, which was classified as a long-term available-for-sale investment. At year-end, the fair value of the investment is $27,500. Potter will report

• A)nothing until the investment is sold.
• B)a $2,500 unrealized gain in its income statement.
• C)a $2,500 realized gain in its income statement.
• D)a $2,500 unrealized gain as other comprehensive income.

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