At December 31, 2022, the trading debt securities for Cullumber, Inc. are as follows. Security A B C (a) Cost $17,400 12,800 Dec. 31 23,100 $53,300 Fair Value $16,000 13,800 18,700 $48,500 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
At December 31, 2022, the trading debt securities for Cullumber, Inc. are as follows. Security A B C (a) Cost $17,400 12,800 Dec. 31 23,100 $53,300 Fair Value $16,000 13,800 18,700 $48,500 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 16E
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