What statement describes the results of the change in fair value as of December 31, 2009?"?
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In 2008, Metro Corp. bought stock and classified it as available-for-sale securities. The original cost was $16,000, the fair value at the end of 2008 was $16,500, and the fair value at the end of 2009 was $17,000. What statement describes the results of the change in fair value as of December 31, 2009? A. There will be an unrealized gain on the income statement of $500. B. There will be an unrealized loss on the income statement of $1,000. C. There will be an unrealized gain shown in stockholders' equity of $1,000. D. There will be an unrealized loss shown in stockholders' equity of $1,000.
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Answer:
C. There will be an unrealized gain shown in stockholders' equity of $1,000
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