7. Receivables and Investments
Available-for-Sale (AFS) Securities
Multiple Choice
Multiple ChoiceReset Company held investments in available-for-sale securities with a fair value of $180,000 as of December 31, 2017. Reset had originally purchased the investments at a price of $152,000 on January 1, 2017. What is the appropriate amount for Reset to report for these investments on its December 31, 2017 balance sheet?
A
$180,000
B
$152,000
C
$28,000 gain
D
Cannot be determined
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