Redfield Company has these data at December 31, 2012: The available-for-sale securities are held as a long-term
Question:
Redfield Company has these data at December 31, 2012:
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:
Securities Cost Fair Value Trading Available-for-sale $110,000 100,000 $122,000 96,000
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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