On December 31, 2022. Bridgeport Corp provided you with the following pre-adjustment information regarding its portfolio...
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On December 31, 2022. Bridgeport Corp provided you with the following pre-adjustment information regarding its portfolio of investments held for short-term profit-taking December 31, 2022 Investments Carrying Amount Fair Value Moonstar Corp shares $22,000 $21.100 Bilby Corp, shares 11.000 10.000 Radius Ltd, shares 22.200 22.900 Total portfolio $55.200 $54.000 During 2023, the Bilby shares were sold for $10,500. The fair values of the securities on December 31.2023, were as follows Moonstar shares $21,600 and Radius shares $22,800. The company does not recognizeand report dividends and other components of investment gains and losses separately. Prepare the adjusting journal entry needed on December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts List det Prepare the adjusting journal entry needed on December 31.2022. (Credit account titles one automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit Prepare the journal entry to record the sale of the Bilby shares during 2023 (Credit account titles are outomatically indented when the amount is entered. Do not indent manually if no entry is required, select "No Entry" for the account titles and enter O for the mounts List all debit entries before credit entries Account Titles and Explanation Debit Credit Prepare the journal entry to record the sale of the Billy shares during 2023. Credit eccount tities are automatically indented when the amount is entered. Do not indent manually. If no entry is mauired select "No Entry" for the account titles and enter O for the aus List all debit entries before credit entries Account Titles and Explanation/ eTextbook and Media: List of Accounts Debit Credit Prepare the adjsating journal entry needed on December 31, 2021. (Cedit account titles are outomatically indented when the amount is entered. Do not indent many if no entry is required, select "No Entry for the account titles and enter for the amounts List debit entry before credit entry) Account Titles and Explanation Debit Credit On December 31, 2022. Bridgeport Corp provided you with the following pre-adjustment information regarding its portfolio of investments held for short-term profit-taking December 31, 2022 Investments Carrying Amount Fair Value Moonstar Corp shares $22,000 $21.100 Bilby Corp, shares 11.000 10.000 Radius Ltd, shares 22.200 22.900 Total portfolio $55.200 $54.000 During 2023, the Bilby shares were sold for $10,500. The fair values of the securities on December 31.2023, were as follows Moonstar shares $21,600 and Radius shares $22,800. The company does not recognizeand report dividends and other components of investment gains and losses separately. Prepare the adjusting journal entry needed on December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts List det Prepare the adjusting journal entry needed on December 31.2022. (Credit account titles one automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit Prepare the journal entry to record the sale of the Bilby shares during 2023 (Credit account titles are outomatically indented when the amount is entered. Do not indent manually if no entry is required, select "No Entry" for the account titles and enter O for the mounts List all debit entries before credit entries Account Titles and Explanation Debit Credit Prepare the journal entry to record the sale of the Billy shares during 2023. Credit eccount tities are automatically indented when the amount is entered. Do not indent manually. If no entry is mauired select "No Entry" for the account titles and enter O for the aus List all debit entries before credit entries Account Titles and Explanation/ eTextbook and Media: List of Accounts Debit Credit Prepare the adjsating journal entry needed on December 31, 2021. (Cedit account titles are outomatically indented when the amount is entered. Do not indent many if no entry is required, select "No Entry for the account titles and enter for the amounts List debit entry before credit entry) Account Titles and Explanation Debit Credit
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Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
Posted Date:
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