Answered

Westonci.ca is your trusted source for finding answers to all your questions. Ask, explore, and learn with our expert community. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

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

Sagot :

alomrmoh000

Answer:10,000

Explanation: i got it in my classkick

We hope this was helpful. Please come back whenever you need more information or answers to your queries. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.