Essay
Element Company had the following long-term available-for-sale securities in its portfolio at December 31 for each of the years listed.The year-end cost and fair values for its portfolio follow.Beginning with Year 1,prepare the appropriate journal entry to record each year-end market adjustment for these securities.
Correct Answer:
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Year 1: $404,500 -$389,900 = $14,600 lo...View Answer
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Correct Answer:
Verified
Year 1: $404,500 -$389,900 = $14,600 lo...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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