Woods sold all of the holmes stock for 17 per share on, Ask an Expert

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During 2010, Woods Company purchased 20,000 shares of Holmes Corp. common stock for $315,000 as an available-for-sale investment. The fair value of these shares was $300,000 at December 31, 2010. Woods sold all of the Holmes stock for $17 per share on December 3, 2011, incurring $14,000 in brokerage commissions. Woods Company should report a realized gain on the sale of stock in 2011 of ??

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9440224

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