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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Briefly describe how to determine and record any subsequent increases or decreases in the fair value of a minority passive investment in equity securities.

To determine

Explain the way in which the increase or decrease in the fair value of a minority passive investment in equity securities are determined and recorded.

Explanation

Investment: It refers to the process of using the currently held excess cash to earn profitable returns in future. The investments can be made in equity securities such as shares or debt securities such as bonds.

The way in which the increase or decrease in the fair value of a minority passive investment in equity securities are determined and reported is as follows:

The investment in the equity securities are primarily recorded at it costs. Then, it is reported at the fair value...

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