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can someone solve this please Fair Volue Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first
can someone solve this please
Fair Volue Journal Entries, Trading Investments Last Unguaranteed Financial Inc. purchased the following trading securities during Year 1, its first year of operations: The market price per share for the trading security portfolio on December 31 , Year 1 , was as follows: a. Provide the journal entry to adjust the trading security portfolio to fair value on December 31 , Year 1 . If no entry is required, select "no entry required" and leave the amount box blank. Year 1, Dec. 31 b. Assume that the market prices of the portfolio were the same on December 31 , Year 2 , as they were on December 31 , Year 1 . market price per share for the trading security portfollo on December 31 , Year 1 , was as follows: Provide the journal entry to adjust the trading security portfollo to fair value on December 31 , Year 1. If no entry is required, select no entry required" and leave the amount box blank. b. Assume that the market prices of the portfolio were the same on December 31 , Year 2 , as they were on December 31 , Year 1 . What would be the journal entry to adjust the portfolio to fair value? If no entry is required, select "no entry required" and leave the amount box blank. Year 2, Dec. 31 Step by Step Solution
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