Duggen Corporation holds available-for-sale stock securities costing ($ 72,000) as a long-term investment. At December 31, 1996,

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Duggen Corporation holds available-for-sale stock securities costing $\$ 72,000$ as a long-term investment. At December 31, 1996, the fair value of the securities is $\$ 65,000$. Prepare the adjusting entry to record the securities at fair value.

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Duggen Corporation holds available-for-sale stock securities costing ($ 72,000) as a long-term investment. At December 31, 1996,

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Financial Accounting

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