Solved: What is the appropriate amount for master putter to report, Accounting Basics

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What is the appropriate amount for master putter to report

Question - Master Putter Tennis Academy held investments in trading securities with a fair value of $ 75,000 December 31, 2014. These investments cost Master Putter $ 70,000 on January 1, 2014. What is the appropriate amount for Master Putter to report for these investments on the December 31, 2014, balance sheet?

A. $ 5,000 gain

B. $ 70,000

C. $ 75,000

D. Cannot be determined from the data given

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Accounting Basics: What is the appropriate amount for master putter to report

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