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Potner Coporation has the following trading portfolo of stock ivestments as of December 31, 2019. Security Cost Eair Value $19,000 S15,000 A 22,000 27,000 C
Potner Coporation has the following trading portfolo of stock ivestments as of December 31, 2019. Security Cost Eair Value $19,000 S15,000 A 22,000 27,000 C 34.000 29.000 S75.000 S71.000 On Januany 22, 2020, Plotner Corporation sold security C for $32,000o Instructions la) Prepare the adjusting entry for Plotner Corporation on December 31.,2019, to report the portfolio at fai value tbi Indcate the balance sheet and income statement presentation of the fai volue data for Plotner Corooratson at Decernber 31.2o19 c Prepare the purnal entry for the 2020 sae
Potner Coporation has the following trading portfolo of stock ivestments as of
December 31, 2019.
Security
Cost
Eair Value
$19,000
S15,000
A
22,000
27,000
C
34.000
29.000
S75.000
S71.000
On Januany 22, 2020, Plotner Corporation sold security C for $32,000o
Instructions
la) Prepare the adjusting entry for Plotner Corporation on December 31.,2019, to
report the portfolio at fai value
tbi Indcate the balance sheet and income statement presentation of the fai volue
data for Plotner Corooratson at Decernber 31.2o19
c Prepare the purnal entry for the 2020 sae
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
