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Latrobe Corporation holds as a long-term investment available-for-sale stock securities costing $72,000. At December 31, 2012, the fair value of the securities is $66,000. Prepare the adjusting entry to record the securities at fair value.

Chapter 16, Brief Exercises #6
Latrobe Corporation holds as a long-term investment available-for-sale stock securities costing $72,000. At December 31, 2012, the fair value of the securities is $66,000. Prepare the adjusting entry to record the securities at fair value.

Corporation
A 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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Accounting Principles

Accounting Principles

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

ISBN: 978-0470534793

Answers for Questions in Chapter 16

Brief Exercises:
COMPREHENSIVE PROBLEM:
Continuing cookie chronicle:
DO IT! Review:
Exercises:
Financial Reporting Problem:
Problem Set A:
Problem Set B:
Questions:

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