How much is the unrealized gain recognized in profit

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Problem 1: On January 1, 20x1, Rizzi Co. purchased 12,000 shares of Andre, Inc. for ?400,000. Commission  paid to broker amounted to ?20,000. Management made an irrevocable choice to subsequently  measure the shares at fair value through other comprehensive income. On December 31, 20x1,  the shares were quoted at ?40 per share. On January 3, 20x2, all of the shares were sold at ?60  per share. Commission paid on the sale amounted to ?24,000. How much is the unrealized gain (loss) recognized in profit or loss on December 31, 20x1?

a. (60,000)
b. 60,000
c. (80,000)
d. 0

Reference no: EM132730880

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