FREE Trial

The cost of the trading securities of Cepeda Company at December 31, 2010, is $62,000. At December 31, 2010, the fair value of the securities is $59,000. Prepare the adjusting entry to record the securities at fair value.

Chapter 16, Brief Exercises #4

The cost of the trading securities of Cepeda Company at December 31, 2010, is $62,000. At December 31, 2010, the fair value of the securities is $59,000. Prepare the adjusting entry to record the securities at fair value.


This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Answer expert-answer


Dec. 31 Unrealized Loss x Income ......…View the full answer

answer-question
Related Book For answer-question
Accounting Principles

Accounting Principles

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

ISBN: 978-0470533475

Answers for Questions in Chapter 16

Brief Exercises:
Broadening Your Perspective:
COMPREHENSIVE PROBLEM:
DO IT! Review:
Exercises:
Problem Set A:
Problem Set B:
Questions:

Students also viewed these Accounting questions