Far East Limited invested in three different SPPI debt securities in its portfolios in December 2020....
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Far East Limited invested in three different SPPI debt securities in its portfolios in December 2020. The purposes of holding securities are held for collecting contractual cash flows and for sale from time to time. The year-end cost and fair values for its portfolio were as follows: Cost Fair Value $394,500 406,400 454,800 $389,900 412,600 472,000 Year 2020 Year 2021 Year 2022 Required: Beginning with Year 2020, prepare the appropriate journal entry to record each year-end market adjustment for these financial instruments from Year 2020 to Year 2022. Far East Limited invested in three different SPPI debt securities in its portfolios in December 2020. The purposes of holding securities are held for collecting contractual cash flows and for sale from time to time. The year-end cost and fair values for its portfolio were as follows: Cost Fair Value $394,500 406,400 454,800 $389,900 412,600 472,000 Year 2020 Year 2021 Year 2022 Required: Beginning with Year 2020, prepare the appropriate journal entry to record each year-end market adjustment for these financial instruments from Year 2020 to Year 2022.
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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