Yale Co. purchased a bond on October 4 of the current year for $45,000 and classified it

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Yale Co. purchased a bond on October 4 of the current year for $45,000 and classified it as available-for-sale. The market value of the investment at year-end is $42,000.

What value will be reported in net income for the adjustment, if any?

a. $42,000

b. $0

c. $(3,000)

d. Not enough information is given to determine the amount included in net income.

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Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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Question Posted: Feb 02, 2024 05:01 AM

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Yale Co. purchased a bond on October 4 of the current year for $45,000 and classified it

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Horngrens Financial And Managerial Accounting The Managerial Chapters

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