Question

Using the data in Question 13, how would Jill report the data if the investment were long-term and the securities were classified as available-for-sale?
In Question 13, Jill Hollern is the controller of Chavez Inc. At December 31, the company’s investments in trading securities cost $74,000. They have a fair value of $72,000. Indicate how Jill would report these data in the financial statements prepared on December 31.



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  • CreatedJanuary 30, 2014
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