The cost and fair value of non-strategic investments of International Journalist Corporation on December 31, 2020, and
Question:
The cost and fair value of non-strategic investments of International Journalist Corporation on December 31, 2020, and December 31, 2021, are as follows:
Required
1. Prepare the fair value adjustment at December 31, 2020, and December 31, 2021, based on the information provided.
2. Illustrate how the non-strategic investments will be reported on the December 31, 2020, and December 31, 2021, balance sheets.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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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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