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Category > Accounting Posted 15 May 2017 My Price 5.00

Ramirez Company has a held-for-collection investment in the 6%

 

Ramirez Company has a held-for-collection investment in the 6%, 20-year bonds of Soto Com- pany. The investment was originally purchased for $1,200,000 in 2013. Early in 2014, Ramirez recorded an impairment of $300,000 on the Soto investment, due to Soto’s financial distress. In 2015, Soto returned to

 

 

profitability and the Soto investment was no longer impaired. What entry does Ramirez make in 2015 under (a) GAAP and (b) IFRS?

 

 

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 15 May 2017 05:05 PM My Price 5.00

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Attachments

file 1494867789-739285_1_636300742948824633_739285.xlsx preview (117 words )
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