Refer to the information in E17-3 and assume that Roosevelt elected the fair value option for this
Question:
Refer to the information in E17-3 and assume that Roosevelt elected the fair value option for this held-for-collection investment.
Instructions
(a) Prepare any entries necessary at December 31, 2010, assuming the fair value of the bonds is $540,000.
(b) Prepare any entries necessary at December 31, 2011, assuming the fair value of the bonds is $525,000.
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Related Book For
Intermediate Accounting
ISBN: 978-0470616314
IFRS edition volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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