Question
Fickle Financial buys and sells securities, expecting to earn profits on short-term differences in price. On December 28, Fickle purchased Microsoft common shares for $485,000.
Fickle Financial buys and sells securities, expecting to earn profits on short-term differences in price. On December 28, Fickle purchased Microsoft common shares for $485,000. On December 31, the shares had a fair value of $483,000. Record the initial investment by Fickle and, if appropriate, an adjustment to record the investment at fair value.
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The Power Of Accounting What The Numbers Mean And How To Use Them
Authors: Lawrence Lewis
1st Edition
0415884306, 978-0415884303
