Question
Metlock Company has portfolio valued at $3,300. Its cost was 2,500. if the fair value adjustment account has a debit balance of $ 320, Prepare
Metlock Company has portfolio valued at $3,300. Its cost was 2,500. if the fair value adjustment account has a debit balance of $ 320, Prepare the journal entry at year end.
Account titles and explanation Debit Credit
___________________________ ____________ __________________
____________________________ ______________ _____________________
__________________________ _________________ _______________________
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
