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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 40
A Valuing trading securities at fair value
On January 1, 2016, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2016, the cost of the trading securities portfolio was $385,000, and the fair value was $357,400. Prepare the December 31, 2016, adjusting journal entry to record the unrealized gain or loss on trading investments.
B Valuing trading securities at fair value
On January 1, 2016, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2016, the cost of the trading securities portfolio was $41,500, and the fair value was $46,300. Prepare the December 31, 2016, adjusting journal entry to record the unrealized gain or loss on trading investments.
On January 1, 2016, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2016, the cost of the trading securities portfolio was $385,000, and the fair value was $357,400. Prepare the December 31, 2016, adjusting journal entry to record the unrealized gain or loss on trading investments.
B Valuing trading securities at fair value
On January 1, 2016, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2016, the cost of the trading securities portfolio was $41,500, and the fair value was $46,300. Prepare the December 31, 2016, adjusting journal entry to record the unrealized gain or loss on trading investments.
Explanation
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A. Valuing trading securities at fair va...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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