1/1/2017 12/31/2017 12/31/2018 Ending Difference Balance Fair Value (FV-BV) 100,000 95,000 96,000 100,000 99,000 97,000 0.00 4,000 1,000 What are the Fair Value Adjustment Journal Entries for 12/31/2017 and 12/

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
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 18E: Errors During the course of your examination of the financial statements of Burnett Co., a new...
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1/1/2017
12/31/2017
12/31/2018
Ending
Difference
Balance Fair Value (FV-BV)
100,000
95,000
96,000
100,000
99,000
97,000
0.00
4,000
1,000
What are the Fair Value Adjustment Journal Entries for 12/31/2017 and 12/31/2018?
Transcribed Image Text:1/1/2017 12/31/2017 12/31/2018 Ending Difference Balance Fair Value (FV-BV) 100,000 95,000 96,000 100,000 99,000 97,000 0.00 4,000 1,000 What are the Fair Value Adjustment Journal Entries for 12/31/2017 and 12/31/2018?
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