Zippydah SE has the following data at December 31, 2020. The non-trading securities are held as a
Question:
Zippydah SE has the following data at December 31, 2020.
The non-trading securities are held as a long-term investment. This is the first year of the company’s operations.
Instructions
a. Prepare the adjusting entries to report each class of securities at fair value.
b. Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts.
Transcribed Image Text:
Fair Value Securities Cost €124,000 Trading Non-trading €120,000 100,000 94,000
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a Fair Value Adjustment x Trading 124000 120000 4000 Unreali...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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