Use the following information about Umbrella Corporation to answer the next three questions. On April 4, 2022, Umbrella

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Use The Following Information About Umbrella Corporation To Answer The Next Three Questions On April 4 2022 Umbrella 1 (48.59 KiB) Viewed 29 times

Use the following information about Umbrella Corporation to answer the next three questions. On April 4, 2022, Umbrella Corporation purchased 400 shares of Alphabet, Inc. stock (the parent company of Google) for $2,859 per share and classified the investment as TRADING. On April 30, 2022, Alphabet stock was trading at $2,332 per share, and on May 23, 2022, Alphabet stock was trading at $2,230 per share. 3. The Investment in Alphabet will be shown on Umbrella Corporation's April 30, 2022 Balance Sheets for: a. $1,143,600 b. $1,038,200 c. $932,800 d. $892,000 4. The Unrealized Gain or Unrealized Loss on this trading investment will be shown on Umbrella Corporation's April 2022 Income Statement for: a. $251,600 unrealized loss b. $210,800 unrealized loss $40,800 unrealized loss d. $105,400 unrealized gain c. 5. Trading securities are valued on the balance sheet at: a. lower of cost or market. b. cost. C. market value. d. cost, adjusted for the effects of interest.