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During the current year, the Yankton Company purchased 200 shares of in the Sorros Company for $13,000 as a temporary investment. At the end of the year, the market value of the stock was $11,000. The Yankton Company's financial statements for the current year should show:
a.a loss of $2,000 on the income statement and temporary investments of $13,000 on the balance sheet
b.no loss on the income statement and temporary investments of $13,000 on the balance sheet
c.a gain of $2,000 on the income statement and temporary investments of $11,000 on the balance sheet
d.a loss of $2,000 on the income statement and temporary investments of $11,000 on the balance sheet
What revenue does Garr report related to this investment and what is the amount to be reported as an investment in Cey stock at December 31. (show all work)
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The statement of cash flows and related disclosures would be of the least assistance in helping a potential investor assess:
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When the budget of a governmental unit is adopted and appropriations are more than Estimated Revenues, the difference is :
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Flagstaff Department Store had net credit sales of $13,000,000 and cost of goods sold of $10,000,000 for the year. The average inventory for the year amounted to $2,500,000.
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