Multiple Choice
Use the following information to answer questions
Bayne Inc.bought bonds at a cost of $12,000 on March 1, 2011.At the end of the first quarter, March 31, Waba prepared financial statements and the bonds had a market value of $12,800.Bayne sold the bonds for $12,100 on May 18 before receiving any interest for them.
-On their first quarter financial statements prepared for the period ending March 31, Bayne should have recorded:
A) An unrealized gain of $800
B) An unrealized loss of $300
C) A realized gain of $300
D) no adjustment was required
Correct Answer:
Verified
Correct Answer:
Verified
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