Queens Library, an independent not-for-profit entity received $30,000 in dividends and $24,000 in interest on its...

Queens Library, an independent not-for-profit entity received $30,000 in dividends and $24,000 in interest on its investment portfolio. In addition, the entity also accrued $6,000 in interest on the portfolio. The decrease in fair value of the portfolio during the year was $8,000. How much should the entity report as investment at the end of

the year

		$8,000
		$52,000
		$54,000
		$60,000

Expert Solution

Answer : $ 52,000

Note:

Divident Received : $ 30,000

Interest Received : $ 24,000

Interest Accrued : $ 6,000

(-) Decrease in Fair value of portfolio :($ 8,000)

Total value of investment : $ 52,000

ekkarill92 answered 1 year ago

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