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Redfield Company has these data at December 31, 2012: The available-for-sale securities are held as a long-term investment.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

Redfield Company has these data at December 31, 2012:

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The available-for-sale securities are held as a long-term investment.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.

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Securities Cost Fair Value Trading Available-for-sale $110,000 100,000 $122,000 96,000

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a Market Adjustment x Trading 122000 110000 12000 …View the full answer


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Financial Accounting Tools for business decision making

Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

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

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Question Details
Chapter # 15- Reporting and Analyzing Investments
Section: Exercises
Problem: 8
Posted Date: September 22, 2011 11:30:49
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