## Question

###### Colvis Corporation purchased a non-strategic investment in 950 shares of Scotiabank stock for $28 per share....

Colvis Corporation purchased a non-strategic investment in 950 shares of Scotiabank stock for $28 per share. On the next balance sheet date. Scotiabank stock is quoted at $32 per share. Colvis sold the Scotiabank shares for $42.000 two years later. Colvis'income statement should report an) O A gain on sale of $15,400. B. gain on sale of $11.600 OC. unrealized gain of $3,800 OD. Investments of $42.000.

## Answers

Answer:- step (1)!- calculation of wst of Anuestmeut :- cost of investment = number of shares purchased x cost per share < 950 shares * $28 per share = $26,600 slepcess calculation of Gan (1095) on sale Gain/Closs) on sale = 2 = sale price of investment a cost of investment $ 42000 - $26600 $15400 . Gain on sale= $ 15,400 - option n' es correct

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