Eleston Printing Acquired the Following Short-Term Equity Securities on January

question 25

Multiple Choice

Eleston Printing acquired the following short-term equity securities on January 1,2X12: $\begin{array}{lcccc}\text { Company. } & \text { \# of Shares } & \text { Price/share } & & \text { Total Cost } \\\text { Color, Inc. }& 250 & \$ 22 & & \$ 5,500 \\\text { Black, Inc. } & 300 & 22 & & 6,600 \\\text { White, Inc. } & 500 & 14 & & \underline{7,000} \\& & & & \$ 19,100\end{array}$ The quarter-end prices per share were as follows:
$\begin{array}{lcc}\text { Company } & 03 / 31 / 2X12 & 06 / 30 / 2X12 & 09 / 31 / 2X12 & 12 / 30 / 2X12\\\text { Color, Inc. } & \$ 23 & \$ 21&\$22&\$21 \\\text { Black, Inc. } & 24 & 20 &23&24\\\text { White. Inc. } & 15 & 14&13&13\end{array}$ Eleston Printing considers Color,Inc.stock to be a trading security and Black,Inc.and White,Inc.to be available-for-sale securities.
What will be the net gain or loss reported on the income statement of Eleston Printing for the 3 month period ending March 31,2X12?

• A)$250
• B)$(250)
• C)$900
• D)$1,100
• E)$2,000

---

Definitions:

Family Tree

A diagram showing the relationships and lineage of an individual's ancestors, often used in genealogical research.

Mental Disorders

Health conditions characterized by significant changes in thinking, emotion, or behavior, associated with distress or impaired functioning.

Cumulative Records

File containing information about a client’s test scores, grades, behavioral problems, family issues, relationships with others, and other matters. School and workplace records are examples of cumulative records that can add vital information to our understanding of clients. It is a type of record and personal document.

Significant Behaviors

Actions or conduct that distinctly impact an individual's performance, perception, or social interaction.