Maurice Tutor

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Teaching Since: May 2017
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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 > Accounting Posted 06 May 2018 My Price 4.00

intent and ability

S&L Financial buys and sells securities which it classifies as available-for-sale. On December 27, 2016, S&L purchased Coca-Cola common shares for $700,000 and sold the shares on January 3, 2017, for $702,000. At December 31, the shares had a fair value of $699,000, and S&L has the intent and ability to hold the investment until fair value recovers. What pretax amounts did S&L include in its 2016 and 2017 earnings as a result of this investment?

Answers

Maurice Tutor
(5)
Status NEW Posted 06 May 2018 07:05 PM My Price 4.00

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