Question
(9). Raid Company has the following data at December 31, 2021. Securities Trading Available-for-sale Cost $120,000 100,000 Fair Value $127,000 95,000 The available-for-sale securities are
(9).
Raid Company has the following data at December 31, 2021.
Securities
Trading Available-for-sale
Cost
$120,000 100,000
Fair Value
$127,000 95,000
The available-for-sale securities are held as a long-term investment.
Instructions
Prepare the adjusting entries to report each class of securities at fair value.
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
16th Edition
78110939, 978-0078110931
