At December 31, 2020, the trading securities for Larkspur Company are as follows: Security Cost Fair...

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At December 31, 2020, the trading securities for Larkspur Company are as follows: Security Cost Fair Value A $20,160 $25,200 B 42,840 40,320 $63,000 $65,520 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are autom when the amount is entered. Do not indent manually. List debit entry before credit entry.) Account Titles and Explanation List of Accounts Save for Later Debit Credit Attempts: 0 of 1 used At December 31, 2020, the trading securities for Larkspur Company are as follows: Security Cost Fair Value A $20,160 $25,200 B 42,840 40,320 $63,000 $65,520 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are autom when the amount is entered. Do not indent manually. List debit entry before credit entry.) Account Titles and Explanation List of Accounts Save for Later Debit Credit Attempts: 0 of 1 used

Answer rating: 100% (QA)

To adjust the trading securities at fair value as of December 31 2020 we need to compare the cost an... View the full answer