For each transaction numbered 1 through 4 below, identify which effect (a through g) would most likely occur as a result of the transaction. You may use each letter more than once or not at all.
_____ 1. Trading equity securities are purchased for $1,000 cash.
_____ 2. Trading securities that cost $1,000 have a yearend market value of $800.
_____ 3. Trading securities that cost $1,000 have a yearend market value of $1,200.
_____ 4. Trading securities that cost $1,000 that have a current balance sheet value of $800 are sold for $900.

Question

For each transaction numbered 1 through 4 below, identify which effect (a through g) would most likely occur as a result of the transaction. You may use each letter more than once or not at all.
  _____ 1. Trading equity securities are purchased for $1,000 cash.
_____ 2. Trading securities that cost $1,000 have a yearend market value of $800.
_____ 3. Trading securities that cost $1,000 have a yearend market value of $1,200.
_____ 4. Trading securities that cost $1,000 that have a current balance sheet value of $800 are sold for $900.

Quizplus · Accepted Answer

The Answer of For each transaction numbered 1 through 4 below, identify which effect (a through g) would most likely occur as a result of the transaction. You may use each letter more than once or not at all.
  _____ 1. Trading equity securities are purchased for $1,000 cash.
_____ 2. Trading securities that cost $1,000 have a yearend market value of $800.
_____ 3. Trading securities that cost $1,000 have a yearend market value of $1,200.
_____ 4. Trading securities that cost $1,000 that have a current balance sheet value of $800 are sold for $900.

For Each Transaction Numbered 1 Through 4 Below, Identify Which