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Assignment help 2638

In March of 2010, Moon Corp. bought 45,000 shares of McMahon Corp.’s listed stock for $450,000 andclassified the shares as available-for-sale securities. The market value of these shares had declined to$300,000 by December 31, 2010. Moon changed the classification of these shares to trading securities in Juneof 2011 when the market value of this investment in McMahon’s stock had risen to $345,000. How muchshould Moon include as a loss on transfer of securities in its determination of net income for 2011?a. $0b. $45,000c. $105,000d. $150,000

In March of 2010, Moon Corp. bought 45,000 shares of McMahon Corp.’s listed stockfor $450,000 and classified the shares as available-for-sale securities. The market valueof these shares had…

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