In January 2013, Pennington Bancorp acquired $100,000 of marketable securities and classified them as Available...
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Accounting
In January 2013, Pennington Bancorp acquired $100,000 of marketable securities and classified them as Available for Sale. On March 31, 2013, Pennington prepared its 10-Q and marked the securities down to their market value of $85,000. On April 4, 2013, Pennington sold the securities for $93,000 cash.
Which of the following items would be increased by the sale of the marketable securities? (check all that apply)
Cash from Investing Activities
Gain on Sale of Investments
Total Assets
Marketable Securities
Total Shareholders Equity
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