Swisher Company has these data at December 31, 2014: The available-for-sale securities are held as a long-term
Question:
The available-for-sale securities are held as a long-term investment.
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.
Transcribed Image Text:
Cost Securities Trading Available-for-sale $110,000 100,000 Fair Value $122,000 96,000
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a Fair Value AdjustmentTrading 122000 110000 12000 ...View the full answer
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Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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