Analyze the market price of shares, Accounting Standards

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Analyze the market price of shares

Apply GAAP for short-term investments

Response to the following problem:

Spring Corporation, the investment banking company, often has extra cash to invest. Suppose Spring buys 825 shares of TPG, Inc., stock at $59 per share. Assume Spring expects to hold the TPG stock for one month and then sell it. The purchase occurs on December 15, 2014. At December 31, the market price of a share of TPG stock is $62 per share.

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Accounting Standards: Analyze the market price of shares

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