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A company failed to record unrealized gains of $30 million on its debt investments classified as trading securities. Its tax rate is 25%. As
A company failed to record unrealized gains of $30 million on its debt investments classified as trading securities. Its tax rate is 25%. As a result of this error, total shareholders' equity would be: (Round million answer to 2 decimal places.) Multiple Choice Understated by $22.50 million. Understated by $30.00 million. Understated by $7.50 million. Unaffected.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
