S& l financial buys and sells securities that it typically classifies as available-for-sale. on december 27, 2018, s& l purchased coca-cola bonds at par for $715,000 and sold the bonds on january 3, 2019, for $717,500. at december 31, the bonds had a fair value of $713,500. when it purchased the coca-cola bonds, s& l financial decided to elect the fair value option for this investment. what pretax amounts did s& l include in its 2018 and 2019 net income as a result of this investment (ignoring interest)?

2018 loss for 1,500

2019 gain for 4,000

Explanation:

purchase at 715,000

December 31th 713,500

adjusting entry december 31th

loss on investment          1,500 debit

    marketable securities                     1,500 credit

january 3rd, 2019

cash                                717,500 debit

     gain on investemnt                       4,000 credit

     martetable securities                 713,500 credit

to record gain on investment

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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answer; functional fixedness;