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. Fair Value Securities Cost €124,000 Trading Non-trading €120,000 100,000 94,000

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.

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Accounting Principles

ISBN: 978-1119419617

IFRS global edition

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

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Question Posted: Jun 26, 2019 09:47 AM

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Zippydah SE has the following data at December 31, 2020. The non-trading securities are held as a

Question:

Fair Value Securities Cost €124,000 Trading Non-trading €120,000 100,000 94,000

Step by Step Answer:

a Fair Value Adjustment x Trading 124000 120000 4000 Unreali...View the full answer

Accounting Principles

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