On December 31, 2010, Trading Securities with an Original Cost

question 65

Essay

On December 31, 2010, trading securities with an original cost of $10,000 have a carrying value on the balance sheet equal to their market value of $12,000. On January 5, 2011, those trading securities are sold for $10,000. Give the appropriate entry to record the sale of the trading securities.

Learn about the "ABC" model in rational-emotive therapy including what A, B, and C stand for.

Comprehend the application and effectiveness of cognitive-behavioral therapy (CBT) across different disorders.

Recognize the similarities and differences in therapeutic approaches and backgrounds of Albert Ellis and Aaron Beck.

Understand the purpose and effectiveness of self-help groups and group therapies in treating psychological problems.

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Definitions:

Elastic Clause

A provision in the U.S. Constitution that grants Congress the power to pass all laws necessary and proper for carrying out its enumerated powers, also known as the Necessary and Proper Clause.

Article I

This is the first section of the U.S. Constitution, which establishes the legislative branch of the federal government, the Congress.

Enumerated Powers

Specific powers granted to Congress as outlined in the United States Constitution.

Commerce Clause

A provision in the U.S. Constitution (Article I, Section 8, Clause 3) granting Congress the power to regulate trade between states, with foreign nations, and among Indian tribes.