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Do we record unrealized gain or loss as a debit or a credit balance when making the fair value adjustment at the end of the period for securities? What is the difference between AFS securities and trading securities? What is the difference between unrealized gain - equity and unrealized gain - income?

Do we record unrealized gain or loss as a debit or a credit balance when making the fair value adjustment at the end of the period for securities? What is the difference between AFS securities and trading securities? What is the difference between unrealized gain - equity and unrealized gain - income?

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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Do we record unrealized gain or loss as a debit or a credit balance when making the fair value adjustment at the end of the period for securities? What is the difference between AFS securities and trading securities? What is the difference between unrealized gain - equity and unrealized gain - income?
Transcribed Image Text:Do we record unrealized gain or loss as a debit or a credit balance when making the fair value adjustment at the end of the period for securities? What is the difference between AFS securities and trading securities? What is the difference between unrealized gain - equity and unrealized gain - income?
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