INTERMEDIATE ACCOUNTING(EBOOK-W/WILEY+)
17th Edition
ISBN: 9781119614142
Author: Kieso
Publisher: WILEY
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Devlin Investments carries portfolios of both trading securities and available-for-sale securities. At the end of 2021 and 2020, the trading securities were valued at $382.7 billion and $459.3 billion, respectively; and the available-for-sale securities were valued at $173.8 billion and $92.6 billion, respectively. Together, the investments comprise about 30 percent of the company's total assets as of December 31, 2021. Trading securities are carried on the balance sheet at market value. Compute the net decrease in the investment in trading securities during 2021.
Suppose that the Olympic Resources Corporation had sales of $5,762,450 and net income of $426,320 for the year ending December 31, 2011. Calculate the Profit Margin. Answer this accounting problem.
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