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What nickel should at december

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Reference no: EM132618982

Problem 1: Nickel Corporation uses the fair value model of accounting for its investment property. The fair values of its property were: December 31, 2020, $ 180,000 and December 31, 2021, $ 195,000. At December 31, 2021, Nickel should

Option a) recognize a gain of $ 15,000 in income.

Option b) report a gain of $ 15,000 in other comprehensive income.

Option c) defer the gain until the property is sold.

Option d) do nothing (ignore it).

Reference no: EM132618982

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