Question
On January 1, the valuation allowance for trading investments account has a zero balance. On December 31, the cost of trading securities portfolio was $65,200,
On January 1, the valuation allowance for trading investments account has a zero balance. On December 31, the cost of trading securities portfolio was $65,200, and the fair value was $63,000.
Prepare the December 31 adjusting journal entry for the unrealized gain or loss on trading investments.
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Cost Accounting A Managerial Emphasis
Authors: Charles T Horngren
5th Edition
0131796712, 978-0131796713
