Question
ABC Corporation is trading securities portfolio consisted of the following common stocks. Cost Fair Value Bud Corporation $ 46,500 $ 50,000 Heinken Inc. 60,000 58,000
- ABC Corporation is trading securities portfolio consisted of the following common stocks.
Cost Fair Value
Bud Corporation $ 46,500 $ 50,000
Heinken Inc. 60,000 58,000
Corona Corporation 80,000 76,400
Instructions: Record any necessary journal entries assuming the fair value account had a credit balance of $5,000 prior to this entry.
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
