ValleyView Company acquires common stock of Kansas Enterprises for $400,000 on November 1, 2013, and designates this investment as available-for-sale. The fair value of these shares is $435,000 on December 31, 2013 . ValleyView sells these shares on August 15, 2014, for $480,000. (Refer to the ValleyView.) The journal entries to record the sale of securities available-for-sale on August 15, 2013
a. Cash.....................................................480,000
Unrealized Holding Gain on
Securities Available-for-Sale.......... 35,000
Marketable Securities.................................... 435,000
Realized Gain on Sale of Securities
Available-for-Sale...................................... 80,000
b. Marketable Securities..........................435,000
Realized Gain on Sale of Securities
available-for-sale................................ 80,000
Cash............................................................ 480,000
Unrealized Holding Gain on
Securities Available-for-Sale....................... 35,000
c. Cash.................................................... 480,000
Realized Holding Gain on
Securities Available-for-Sale............. 35,000
Marketable Securities.................................... 435,000
Unrealized Gain on Sale of Securities
available-for-sale.......................................... 80,000
d. Marketable Securities......................... 435,000
Unrealized Gain on Sale of Securities
available-for-sale................................ 80,000
Cash............................................................. 480,000
Realized Holding Gain on
Securities Available-for-Sale....................... 35,000
e. none of the above
A
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