Question
On December 31 Year 1, XSV Inc. has the following equity securities: Cost Fair Value - 12/31/Year 1 AMryn - Common $4,000 $6,000 Axel -
On December 31 Year 1, XSV Inc. has the following equity securities:
| Cost | Fair Value - 12/31/Year 1 | |
| AMryn - Common | $4,000 | $6,000 |
| Axel - Common | $4,000 | $3,500 |
| Total | $8,000 | $9,500 |
XSV Inc. did not trade any of the securities during Year 2 and on December 31, Year 2, the fair value of the whole investment portfolio was now $21,000. What will be included in the year-end adjusting entry for Year 2?
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Certified Internal Auditor CIA Practice Of Internal Auditing Part 2- 2019
Authors: Muhammad Zain
1st Edition
1093798459, 978-1093798456
