Felipe Company has the following data at December 31, 1996: The available-for-sale securities are held as a
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Felipe Company has the following data at December 31, 1996:
The available-for-sale securities are held as a long-term investment.
\section*{Instructions}
(a) Prepare the adjusting entries to report each class of securities at fair value.
(b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts.
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Related Book For 
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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