Question
The following data pertains to Raleigh Co. security investments: Required- Record journal entries for the purchase of the securities in 2004 and for the temporary
The following data pertains to Raleigh Co. security investments:
Required- Record journal entries for the purchase of the securities in 2004 and for the temporary change in value of the securities in 2004 and 2005.
Security | Classification | Cost | Fair Value December 31, 2004 | Fair Value December 31, 2005 |
1 | Trading | $175,000 | $176,000 | $175,000 |
2 | Trading | 225,000 | 230,000 | 228,000 |
3 | Avail. For Sale | 150000 | 160000 | 162000 |
4 | Avail. For Sale | 220000 | 215000 | 210000 |
5 | Held to Maturity | 1,200,000 | 1,190,000 | 1,207,000 |
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
14th edition
978-1259284861, 1259284867, 77862392, 978-0077862398
