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Arte-miy333 [17]
3 years ago
9

A company purchased a marketable security for $10,000 on 3/3/2013. On 3/30/2013, the company prepared its financial statements a

nd marked the security to its market value, which was $17,500. The security was sold on 4/30/2013 for $15,000. The company used the Trading Securities method to account for the security. The statutory tax rate is 35%. What was the effect of the sale of the security on Income Tax Payable on 4/30/2013
Business
1 answer:
timurjin [86]3 years ago
8 0

Answer:10,000

Explanation: i got it in my classkick

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3 0
3 years ago
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3 years ago
Martha and Oleg are competitors in a local market and each is trying to decide if it is worthwhile to advertise. If both of them
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5 0
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Allen has just begun his first professional job. allen will most likely display an increase in which trait?
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In analyzing the financial statements of a company, a single item on the financial statementsa. should be reported in bold-face
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Answer:

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5 0
4 years ago
Read 2 more answers
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