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At December 31, 2010, the Trading Securities for Mayfair, Inc

Question 66

Multiple Choice

At December 31, 2010, the trading securities for Mayfair, Inc. are as follows: At December 31, 2010, the trading securities for Mayfair, Inc. are as follows: Mayfair should report the following amount related to the securities in its 2010 income statement: A) $2,000 gain B) $12,000 realized loss. C) $12,000 unrealized loss. D) $14,000 unrealized loss. Mayfair should report the following amount related to the securities in its 2010 income statement:


A) $2,000 gain
B) $12,000 realized loss.
C) $12,000 unrealized loss.
D) $14,000 unrealized loss.

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