At December 31, 2014, the trading securities for Blue Bell, Inc. are as follow F

Question

At December 31, 2014, the trading securities for Blue Bell, Inc. are as follow

                                                                            Fair Value

Security                               Cost                         12/31/14

X-tra                                 $  90,000                     $  92,000

Yeti                                    150,000                       142,000

Zeta                                     30,000                         28,000

Blue Bell should report the following amount related to the securities transactions in its 2014 income statement

Explanation / Answer

Unrealised Loss = FV-Mkt Value = (90000-92000)+(150000-142000)+(30000-28000) = 8000

31Dec2014 Unrealized gain or loss on investments Dr 8000

Trading securities Cr 8000

Income Stt of Bell for YE Dec 31, 2014

----------------------------------------------------------------------

Net Income xxxxxxx

Other comprehensive income ($8000)

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Total Comprehensive income yyyyyy

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