Question
Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this portfolio on December 31, 20Y3, was as
Jets Bancorp Inc. purchased a portfolio of trading securities during 20Y3. The cost and fair value of this portfolio on December 31, 20Y3, was as follows:
| Name | Number of Shares | Total Cost | Total Fair Value | ||||
| Dolphins Inc. | 1,600 | $28,800 | $32,000 | ||||
| Marino Company | 1,400 | 35,000 | 30,800 | ||||
| Namath Company | 600 | 21,000 | 19,800 | ||||
| Total | $84,800 | $82,600 | |||||
Journalize the entry to record the adjustment of the trading security portfolio to fair value on December 31, 20Y3. If an amount box does not require an entry, leave it blank.
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Cost Management A Strategic Emphasis
Authors: Edward Blocher, David F. Stout, Paul Juras, Steven Smith
8th Edition
9781259917028
