Exercise 15-6 (Algo) Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Lujack Company held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Computation of fair value adjustment. Available-for-Sale Securities es Nintendo Company notes Atlantic bonds Kellogg Company notes McDonald's Corporation bonds Totals Computation of Fair Value Adjustment Cost Fair Value Unrealized Amount Gain or Loss? $ 88,200 $ 96,138 35,280 32,810 63,504 59,694 119,070 113,117 $ 306,054 $ 301,759 < Fair Value Adjustment General Journal >
Exercise 15-6 (Algo) Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Lujack Company held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Computation of fair value adjustment. Available-for-Sale Securities es Nintendo Company notes Atlantic bonds Kellogg Company notes McDonald's Corporation bonds Totals Computation of Fair Value Adjustment Cost Fair Value Unrealized Amount Gain or Loss? $ 88,200 $ 96,138 35,280 32,810 63,504 59,694 119,070 113,117 $ 306,054 $ 301,759 < Fair Value Adjustment General Journal >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Exercise 15-6 (Algo) Fair value adjustment to available-for-sale debt securities LO P3
On December 31, Lujack Company held the following short-term available-for-sale securities. Lujack had no short-term investments
prior to the current period.
Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities.
Complete this question by entering your answers in the tabs below.
Fair Value
Adjustment
General
Journal
Computation of fair value adjustment.
Available-for-Sale Securities
es
Nintendo Company notes
Atlantic bonds
Kellogg Company notes
McDonald's Corporation bonds
Totals
Computation of Fair Value Adjustment
Cost
Fair Value
Unrealized
Amount
Gain or Loss?
$
88,200 $ 96,138
35,280
32,810
63,504
59,694
119,070
113,117
$ 306,054 $ 301,759
<
Fair Value Adjustment
General Journal >
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