{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T16:02:56-04:00", "answer_date": "2024-05-27 16:02:56", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1788410", "url": "\/study-help\/questions\/adjusting-fair-value-adjustment-accountequity-investments-five-separate-scenarios-of-1788410", "question_creation_date_js": "2024-05-27T16:02:56-04:00", "question_creation_date": "May 27, 2024 04:02 PM", "meta_title": "[Solved] Adjusting Fair Value Adjustment Account-E | SolutionInn", "meta_description": "Answer of - Adjusting Fair Value Adjustment Account-Equity Investments Five separate scenarios of equity investment holdings, meas | SolutionInn", "meta_keywords": "adjusting,fair,value,adjustment,account-equity,investments,five,separate,scenarios,equity,investment,holdings", "question_title_h1": " Adjusting Fair Value Adjustment Account-Equity Investments Five separate scenarios of equity investment holdings, measured at FV-NI are as follows. Original Cost Fair Value at", "question_title": " Adjusting Fair Value Adjustment Account-Equity Investments Five separate scenarios of equity", "question_title_for_js_snippet": "Adjusting Fair Value Adjustment Account Equity Investments Five separate scenarios of equity investment holdings, measured at FV NI are as follows Original Cost Fair Value at Fair Value at Scenario of Investment Dec 31, Prior Year Dec 31, Current Year 1 $6,000 $6,000 $6,300 2 6,000 6,300 6,600 3 6,000 5,100 5,520 4 6,000 7,200 5 6,000 4,920 5,700 4,740 For each of the five separate scenarios, record the adjustment to fair value required on December 31 of the current year Assume that each investment was purchased in the prior year and that there were no purchases or sales related to the investment in the current year Date 1 Dec 31 Account Name Fair Value Adjustment TS Fair Value Adjustment Fair Value Option To record adjusting entry 2 Dec 31 Dr Cr 300 0x 0 300 x 0 0 0 0 x To record adjusting entry 3 Dec 31 0 0x 0 0x To record adjusting entry 0 4 Dec 31 0x 0 0x To record adjusting entry 5 Dec 31 0 0x 0 0x C", "question_description": "\"image", "transcribed_text": "Adjusting Fair Value Adjustment Account-Equity Investments Five separate scenarios of equity investment holdings, measured at FV-NI are as follows. Original Cost Fair Value at Fair Value at Scenario of Investment Dec. 31, Prior Year Dec. 31, Current Year 1 $6,000 $6,000 $6,300 2 6,000 6,300 6,600 3 6,000 5,100 5,520 4 6,000 7,200 5 6,000 4,920 5,700 4,740 For each of the five separate scenarios, record the adjustment to fair value required on December 31 of the current year. Assume that each investment was purchased in the prior year and that there were no purchases or sales related to the investment in the current year. Date 1. Dec. 31 Account Name Fair Value Adjustment-TS Fair Value Adjustment-Fair Value Option To record adjusting entry. 2. Dec. 31 Dr. Cr. 300 0x 0 300 x 0 0 0 0 x To record adjusting entry. 3. Dec. 31. 0 0x 0 0x To record adjusting entry. 0 4. Dec. 31 0x 0 0x To record adjusting entry. 5. Dec. 31 0 0x 0 0x C", "related_book": { "title": "Cost Accounting Foundations and Evolutions", "isbn": "9781439044612, 1439044619, 978-1111626822", "edition": "8th Edition", "authors": "Michael R. Kinney, Cecily A. Raiborn", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/146.jpg", "uri": "\/textbooks\/cost-accounting-foundations-and-evolutions-8th-edition-146", "see_more_uri": "" }, "free_related_book": { "isbn": "1895997305", "uri": "\/textbooks\/algebra-i-with-ti-nspire-semester-1-1st-edition-978-1895997309-160442", "name": "Algebra I With Ti Nspire Semester 1", "edition": "1st Edition" }, "question_posted": "2024-05-27 16:02:56", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/database-systems-design-implementation\/the-apache-netbeans-ide-is-mainly-composed-of-netbeans-opensource-1278614", "description": "The Apache NetBeans IDE is mainly composed of NetBeans Open-Source IDE and NetBeans Platform. 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