During 2021, Sandhill Company purchased 20000 shares of Tamarisk Corp. common stock for $430000 as a passive interest investment. The fair value of these shares was $578000 at December 31, 2021. During 2022, Sandhill sold all of the Tamarisk stock for $452000. Sandhill Company should report a realized gain on the sale of stock in 2022 of O $22000. O $50000. O $52000. O $74000.

During 2021, Sandhill Company purchased 20000 shares of Tamarisk Corp. common stock for $430000 as a passive interest investment. The fair value of these shares was $578000 at December 31, 2021. During 2022, Sandhill sold all of the Tamarisk stock for $452000. Sandhill Company should report a realized gain on the sale of stock in 2022 of O $22000. O $50000. O $52000. O $74000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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