Co. A had the following accounts and account balances for its investiment in 2,000 shares of Ford Co stocks na Of November 1, 2020: Investments in Trading Securities(stocks) Allowance to adjust short term investments to market On November 30, 2020 the market value of the Ford co stock was $24 per share. Debit $ 40,000 Credit $ 8,000
Co. A had the following accounts and account balances for its investiment in 2,000 shares of Ford Co stocks na Of November 1, 2020: Investments in Trading Securities(stocks) Allowance to adjust short term investments to market On November 30, 2020 the market value of the Ford co stock was $24 per share. Debit $ 40,000 Credit $ 8,000
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
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 24E
Related questions
Question
a. record the adjusting entry as of November 30, 2020
B. At what value will Co. a report its investment in foof Co. Stocks on its Novemver 30, 2020 balance sheet
![November 1, 2020:
Co. A had the following accounts and account balances for its investment in 2,000 shares of Ford Co stocks na of
Investments in Trading Securities(stocks)
Allowance to adjust short term investments to market
On November 30, 2020 the market value of the Ford co stock was $24 per share.
Debit
$ 40,000
Credit
$ 8,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc4a604b0-4403-43b3-a5df-28c8ebb707d1%2Fb154846c-1307-4ecd-8e41-5f733710eff0%2Foxn0rcf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:November 1, 2020:
Co. A had the following accounts and account balances for its investment in 2,000 shares of Ford Co stocks na of
Investments in Trading Securities(stocks)
Allowance to adjust short term investments to market
On November 30, 2020 the market value of the Ford co stock was $24 per share.
Debit
$ 40,000
Credit
$ 8,000
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