At December 31, 2017 the end of its first year of operations the following lists the securities for Geneva, AG. Security A ABC Cost CHF17,600 12,600 23,200 CHF53,400 Dec . 31 Fair Value CHF15,900 14,400 18,800 CHF49,100 Assume that the investments are classified as non- trading securities. The securities are considered to be a long-term investment. (a) Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

At December 31, 2017 the end of its first year of operations the following lists the securities for Geneva, AG. Security A ABC Cost CHF17,600 12,600 23,200 CHF53,400 Dec . 31 Fair Value CHF15,900 14,400 18,800 CHF49,100 Assume that the investments are classified as non- trading securities. The securities are considered to be a long-term investment. (a) Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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