Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 01 Nov 2017 My Price 3.00

Ramirez Company

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

Maurice Tutor
(5)
Status NEW Posted 01 Nov 2017 08:11 PM My Price 3.00

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