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MMLU-Pro / 5640 / Dodd Co.'s debt securities at December 31 included available-for-sale securities…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Dodd Co.'s debt securities at December 31 included available-for-sale securities with a cost basis of 24000andafairvalueof24000 and a fair value of 30000. Dodd's income tax rate was 20%. What amount of unrealized gain or loss should Dodd recognize in its income statement at December 31?
Plain-text mathematical notation (without MathML)
Dodd Co.'s debt securities at December 31 included available-for-sale securities with a cost basis of 24000andafairvalueof30000. Dodd's income tax rate was 20%. What amount of unrealized gain or loss should Dodd recognize in its income statement at December 31?
Original LaTeX notation
Dodd Co.'s debt securities at December 31 included available-for-sale securities with a cost basis of $24000 and a fair value of $30000. Dodd's income tax rate was 20%. What amount of unrealized gain or loss should Dodd recognize in its income statement at December 31?

category

other

options

  1. $3000 loss.
  2. $6000 gain.
  3. $12000 gain.
  4. $2400 gain.
  5. $4800 gain.
  6. $2400 loss.
  7. $12000 loss.
  8. $0
  9. $6000 loss.
  10. $3000 gain.

src

ori_mmlu-professional_accounting

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Source and history

upstream_id / Original problem ID
5640
task_id
f7426a28-5393-5ce3-a659-03724ec04a4c
task_key
default--test--5640
task_revision_id
1
config / split
default / test

Official source

initial import