The company invested $26,000 in a portfolio of marketable securities on December 22, 2011. The portfolio's market value on December 31, 2011, had increased in value to $28,500. Prepare the journal entry necessary to update the company's accounts immediately after performing its bank reconciliation on December 31, 2011.

The company invested $26,000 in a portfolio of marketable securities on December 22, 2011. The portfolio's market value on December 31, 2011, had increased in value to $28,500. Prepare the journal entry necessary to update the company's accounts immediately after performing its bank reconciliation on December 31, 2011.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter11: Current Liabilities And Payroll

Section: Chapter Questions

Problem 3CPP

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