Question
1.) State Street's Statement of Cash Flow for 2012 (not included) shows the following line items in the Investing Activities section relating to available-for-sale securities
1.) State Street's Statement of Cash Flow for 2012 (not included) shows the following line items in the "Investing Activities" section relating to available-for-sale securities (in millions):
Proceeds from sales of available-for-sale securities: $5,399
Proceeds of available-for-sale securities: $60,812
I.) Show the journal entry state street made to record the purchase of available-for-securities for 2012.
II.) Show the journal entry state street made to record the sale of available-for-sale securities for 2012. Note 13 (not included) reports that the available-for-securities sold during 2012 had "unrealized pre-tax gains of $67M as of December 31, 2011." **Please remove current book value of these securities in your entry***
III) Use the information in part II to determine the original cost of the available-for-sale securities sold during 2012.
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