Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 5 Days Ago
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Education

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

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Aug 2017 My Price 4.00

Goofy Inc

Goofy Inc. bought 15,000 shares of Crazy Co.'s stock for $193,000 on May 5, 2005, and classified the stock as available for sale. The market value of the stock declined to $121,000 by December 31, 2005. Goofy reclassified this investment as trading securities in December of 2006 when the market value had risen to $162,000. What effect on 2006 income should be reported by Goofy for the Crazy Co. shares? A) $0. B) $31,000 net loss. C) $41,000 net gain.. D) $72,000 net loss.

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Aug 2017 09:08 AM My Price 4.00

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