Two uncharged metal balls, X and Y, stand on glass rods, and are in touch with each other. A third ball Z carrying a negative charge, is brought near…
November 23, 2020
propose a topic for Change Proposal
November 23, 2020

On June 30, a business has the following information regarding its long-term investments that qualify as available for sale securities: Cost Market…

1. On June 30, a business has the following information regarding its long-term investments that qualify as available for sale securities:
Cost Market value
ABC Co. 100,000 125,000
XYZ Co. 100,000 90,000
On June 30, the following unadjusted account balances exists:
Fair value adjustment $5,000 credit
Unrealized loss $5,000 debit
Please help create any necessary journal entries to record the adjustment to fair market value on June 30.

 

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