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The following information related to the marketable security investments of Solo Company. Securities held on December 31, 2009, as described in the table below. AAA and BBB are classified as trading securities and CCC is classified as an available-for-sale security. Early in 2010, Solo sold all of its investment in AAA securities for $36 per share. The journal entry to record the 2009 revaluation of the AAA securities would be:
Corporate Profits
The surplus income of a corporation after all expenses, including taxes and operational costs, have been deducted from total revenues.
Net Earnings
The amount of profit that remains after all operating expenses, taxes, and interest have been deducted from total revenue.
Interest Rate
The percentage at which interest is charged or paid on borrowed or saved money, often reflecting the cost of borrowing or the reward for saving.
Continuous Future
Refers to actions or events that are expected to continue over a period of time in the future.
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