What amount of loss should jamie company report

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Reference no: EM132993063

Questions -

Q1. Which of the following is not included in other comprehensive income?

a. Derivative hedges

b. Foreign currency translation adjustments

c. Net unrealized gain/loss on available for sale securities

d. Unrealized holding gains and losses on trading securities

Q2. Jamie Company had investments in marketable securities classified as available-for-sale costing $500,000. On June 30, 2020, Jamie Company reclassified the marketable securities as held-to-maturity. The market value of the investments was as follows: $450,000 on December 31, 2019, $420,000 on June 30, 2020, and $400,000 on December 31, 2020. Jamie Company does not elect the fair value option to account for these investments. What amount of loss should Jamie Company report in its 2020 income statement as of December 31, 2020?

a. $0

b. $30,000

c. $80,000

d. None of the above

Reference no: EM132993063

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