Question
At December 31, 2017, the trading securities for Storrer, Inc. are as follows. Security Cost Fair Value A $17,100 $15,500 B 13,000 13,700 C 22,700
At December 31, 2017, the trading securities for Storrer, Inc. are as follows.
| Security | Cost | Fair Value | ||
| A | $17,100 | $15,500 | ||
| B | 13,000 | 13,700 | ||
| C | 22,700 | 19,300 | ||
| $52,800 | $48,500 |
Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
Step by Step Solution
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Step: 1
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The Logistics Audit Methods Organization And Practice
Authors: Piotr Buła, Bartosz Niedzielski
1st Edition
1032461268, 978-1032461267
