Prepare consolidated financial statements

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Reference no: EM13749762

1. Under what circumstances does a company prepare consolidated financial statements?

2. If a short-term investment in available-for-sale securities costs $10,000 and is sold for $12,000, how should the difference between these two amounts be recorded?

3. If a company purchases its only long-term investments in available-for-sale debt securities this period and their fair value is below cost at the balance sheet date, what entry is required to recognize this unrealized loss?

Reference no: EM13749762

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