Kitty Company began operations in the current year and acquired short-term debt investments in trading securities. The

Question:

Kitty Company began operations in the current year and acquired short-term debt investments in trading securities. The year-end cost and fair values for its portfolio of these debt investments follow. Prepare the journal entry to record the December 31 year-end fair value adjustment for these debt securities.

Falr Value Trading Securities Tesla Bonds Nike Bonds. Ford Bonds..... Cost $12,000 20,000 5,000 $ 9,000 21,000 4,000

Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...

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