The following information is available for an enterprise's security investments as of December 31,2014:
-In June 2015,the enterprise decided to reclassify the Mingo stock as trading securities.The stock had a market value of $41,000 at the time of the reclassification. What amount of holding gain or loss is immediately recognized in 2015 earnings?
Definitions:
Off-Balance Sheet Financing
Off-balance sheet financing involves raising funds or incurring liabilities that are not recorded on the company's balance sheet, often to improve financial ratios.
Lease Payments
Lease payments are the regular payments made by a lessee to a lessor for the use of an asset, such as property or equipment, under a lease agreement.
Fair Value
A measurement of the price at which an asset could be bought or sold, or a liability settled, in a current transaction between willing participants in the market.
Economic Life
The estimated period over which an asset is expected to be economically usable by one or more users, with profitability considered.
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