Dynamic Express Inc. prepared the summary shown below regarding its investments on December 31, 2020, its year-end.

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Dynamic Express Inc. prepared the summary shown below regarding its investments on December 31, 2020, its year-end. Prepare the appropriate entry on December 31, 2020, to record the fair value adjustment.

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Fundamental Accounting Principles Volume II

ISBN: 978-1260305838

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 18, 2019 06:26 AM

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Dynamic Express Inc. prepared the summary shown below regarding its investments on December 31, 2020, its year-end.

Question:

Unadjusted Balance at Dec. 31/20 Fair Values at Dec. 31/20 Non-Strategic Investments Zelco shares. IMC shares. $102,000 $ 98,000 540,000 547,000 48,000 Petra shares 96,000

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2020 Dec 31 Investment IMC Shares 7000 Investment Income Loss 45000 Investment Zelco Sha...View the full answer

Fundamental Accounting Principles Volume II

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