Pacific Fishing Inc.?s actively traded non-strategic investments as of December 31, 2020, are as follows: Pacific Fishing
Question:
Pacific Fishing Inc.?s actively traded non-strategic investments as of December 31, 2020, are as follows:
Pacific Fishing Inc. had no investments prior to 2020.
Required
1. Prepare the fair value adjustment at December 31, 2020, based on the information provided.
2. Illustrate how the investments will be reported on the December 31, 2020, balance sheet.
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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