Question

The accounting records of Jamaican Importers Inc. at January 1, 2011, included the following:

No changes occurred during 2011 in the investment portfolio.

Required:
Prepare appropriate adjusting entry(s) at December 31, 2011, assuming the fair value of the IBM common shares was:
1. $1,175,000
2. $1,275,000
3. $1,375,000



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  • CreatedJuly 02, 2013
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