Question
Selected accounts from GermX Co.s adjusted trial balance for the year ended December 31 follow. Trading securities (at cost) $ 5,000 Cash $ 10,000 Short-term
Selected accounts from GermX Co.s adjusted trial balance for the year ended December 31 follow.
| Trading securities (at cost) | $ | 5,000 | Cash | $ | 10,000 | |||
| Short-term stock investments (at cost) | 23,000 | Fair value adjustmentstock | (1,000 | ) | ||||
| Equity method investments | 70,000 | Accounts receivable | 2,000 | |||||
| Held-to-maturity securities (long-term) | 13,000 | Fair value adjustmenttrading | 500 | |||||
Prepare the assets section of a classified balance sheet. Hint: Fair Value AdjustmentTrading increases trading securities; Fair Value AdjustmentStock decreases stock investments. (Amounts deducted should be indicated by a minus sign.)
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Auditing A Practical Approach
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
4th Edition
0730382648, 978-0730382645
