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Please help me 49er Company acquires equity securities for $8,000 on June 20, 2020. On December 31, 2020, 49er Company reported the (net) balance of
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49er Company acquires equity securities for $8,000 on June 20, 2020. On December 31, 2020, 49er Company reported the (net) balance of the securities as $7,400. On September 15, 2021, 49er Company discovers that it should have reported a balance of $9,100. Provide any necessary journal entry information for September 15, 2021 to correct the error assuming that 49er's tax rate is 35% Do not use "$" in your answer. Use "DR" to designate a debit entry and "CR" to designate a credit entry. If an account does no have an entry amount, enter "O" for your numeric answer and "NA" for the DR/CR/NA column. Account Name Entry Amount DR/CR/NA Deferred Tax Asset $ DR Deferred Tax Liability $ NA Fair Value Adjustment $ 1100 CR etained Earnings $ NAStep by Step Solution
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