Solved: What are the effects on equities financial statement effect, Accounting Basics

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What are the effects on equities financial statement effect

What are the effects on equities?

Financial Statement Effect of Equity Securities

Presented below is a situation involving equity securities:

An equity security, whose fair value is currently less than cost, is classified as available - for - sale but is to be reclassified as trading.

Instructions

Answer the following question.
1.What is the effect upon carrying value and earnings for each of the situation presented?

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Accounting Basics: What are the effects on equities financial statement effect

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