Question
Metlock Company has stock 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 stock 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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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
