Cameron Company has a portfolio of debt investments that it has managed as a trading investment. At
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Cameron Company has a portfolio of debt investments that it has managed as a trading investment.
At December 31, 2015, Cameron had the following balances related to this portfolio: debt investments,
£250,000; fair value adjustment, £10,325 (Dr). Cameron management decides to change its business model for these investments to a held-for-collection strategy, beginning in January 2016. Prepare the journal entry to transfer these investments to the held-for-collection classification.
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Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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