Question
Need help with this questions Shaw Corp, a very successful and wealthy company, had the following investments at December 31, 2014: Securities Cost Fair Value
Need help with this questions
Shaw Corp, a very successful and wealthy company, had the following investments at December 31, 2014:
Securities Cost Fair Value
4000 Shares of Mojo Corporation Common Stock $50,000 $58,000
1000 Shares of Pizza Plaza, Inc. 35,000 32,000
$85,000 $90,000
- Prepare the adjusting entry for 2014 assuming the securities are classified as trsding.
- Prepare the adjusting entry for 2014 assuming the securities are classified as available for sale.
- Explain the effect on the financial statements for 2014 given each classification.
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Horngrens Cost Accounting A Managerial Emphasis
Authors: Srikant M. Datar, Madhav V. Rajan, Louis Beaubien
8th Canadian Edition
134453735, 9780134824680, 134824687, 9780134733081 , 978-0134453736
