As at Dec. 31, 2019, the trading equity investment portfolio for Anchor Inc. was as follows. The
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Question:
As at Dec. 31, 2019, the trading equity investment portfolio for Anchor Inc. was as follows.
The previous Fair Value Adjustment balance was, Dr. $200
Requirement 1a.
Prepare the Dec 31, 2019 adjusting entry for Anchor.
Dr. | Cr. |
Requirement 1b.
Journalize the sale of investment “A”, for $15,300 on May 20, 2020.
Dr. | Cr. |
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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