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At December 31, 2020, the end of its first year of operations, the non-trading securities for Oriole AG are as follows. They have the same cost and fair value. The securities are considered to be a long-term investment. Security A B C Cost CHF17,800 12,900 22,700 CHF53,400 Fair Value CHF 15,800 14,500 18,600 CHF48,900 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts)

At December 31, 2020, the end of its first year of operations, the non-trading securities for Oriole AG are as follows. They have the same cost and fair value. The securities are considered to be a long-term investment. Security A B C Cost CHF17,800 12,900 22,700 CHF53,400 Fair Value CHF 15,800 14,500 18,600 CHF48,900 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts)

FINANCIAL ACCOUNTING
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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At December 31, 2020, the end of its first year of operations, the non-trading securities for Oriole AG are as follows. They have the same cost and fair value. The securities are considered to be a long-term investment. Security A B C Cost CHF17,800 12,900 22,700 CHF53,400 Fair Value CHF 15,800 14,500 18,600 CHF48,900 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts)
Transcribed Image Text:At December 31, 2020, the end of its first year of operations, the non-trading securities for Oriole AG are as follows. They have the same cost and fair value. The securities are considered to be a long-term investment. Security A B C Cost CHF17,800 12,900 22,700 CHF53,400 Fair Value CHF 15,800 14,500 18,600 CHF48,900 Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts)
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