At the end of Year 1, Lane Co. held debt securities classified as trading that cost $86,000 and which had a year‐end fair value of $92,000. During Year 2, all of these securities were sold for $104,500. At the end of Year 2, Lane had acquired additional trading securities that cost $73,000 and that had a year‐end fair value of $71,000. What is the impact of these activities on Lane's Year 2 income statement?
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Business, 22.06.2019 19:20, goofy44
Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm
Answers: 1
At the end of Year 1, Lane Co. held debt securities classified as trading that cost $86,000 and whic...
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