Question
Number of Bitcoin Number of Bitcoin Purchased 72 Price of Bitcoin Average Purchase price $ 25,000 Market price on 12/31/2022 $ 21,500 Market price on
| Number of Bitcoin | |
| Number of Bitcoin Purchased | 72 |
| Price of Bitcoin | |
| Average Purchase price | $ 25,000 |
| Market price on 12/31/2022 | $ 21,500 |
| Market price on 12/31/2023(Hypthetical) | $ 26,000 |
| Other Important Numbers | |
| Tax Rate | 21% |
Make the necessary adjusting entries to account for Phoenix, Inc.'s investment in Digital Assets. at the end of the fiscal year, assuming that Phoenix's finance team decides to use the ASC820 method to account for the investment.
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External Auditing And Quality Accounting Finance Sustainability Governance And Fraud Theory And Application
Authors: Iffet Kesimli
1st Edition
9811305250, 978-9811305252
