The following data pertain to Petroni Companys investment in marketable equity securities. Petroni is a publicly held
Fantastic news! We've Found the answer you've been seeking!
Question:
The following data pertain to Petroni Companys investment in marketable equity securities. Petroni is a publicly held company. Assume that all securities were bought in 2019 and held throughout 2019 and 2020 and ignore taxes.
Market Value Cost 12/31/20 12/31/19 Company Q 165,000 170,000 110,000 Company R 160,000 125,000 115,000
1. Make the journal entries to record the securities and to adjust to market value at 12/31/19 and 12/31/20.
Posted Date: