frick company has an available-for-sale

Project Description:

frick company has an available-for-sale investment in the 10%, 10-year bonds of frack co. the investment’s
carrying value is $3,200,000 at december 31, 2010. on january 9, 2011, frick learns that frack co. has lost
its primary manufacturing facility in an uninsured fire. as a result, frick determines that the investment is
impaired and now has a fair value of $2,300,000. in june, 2012, frack co. has succeeded in rebuilding its
manufacturing facility, and its prospects have improved as a result. if frick company determines that the
fair value of the investment is now $3,900,000 and is using u.s. gaap for its external financial reporting,
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Project Stats:

Price Type: Negotiable

Total Proposals: 1
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