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Falcons Corp. has the following portfolio of common shares without significant influence at December 31, 2020: Cost $ 480,000 90,000 75,000 220,000 $ 865,000 Instructions: Provide the entries to record the year-end adjustments for these FV-NI investments, assuming Falcons uses separate accounts for each investment holding. Investment Albania Inc. Bulgaria Ltd. Slovakia Ltd. Czech Corp. Total Fair value $570,000 620,000 75,000 120,000 $ 1,385,000

Falcons Corp. has the following portfolio of common shares without significant influence at December 31, 2020: Cost $ 480,000 90,000 75,000 220,000 $ 865,000 Instructions: Provide the entries to record the year-end adjustments for these FV-NI investments, assuming Falcons uses separate accounts for each investment holding. Investment Albania Inc. Bulgaria Ltd. Slovakia Ltd. Czech Corp. Total Fair value $570,000 620,000 75,000 120,000 $ 1,385,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Falcons Corp. has the following portfolio of common shares without significant influence at December 31, 2020: Investment Albania Inc. Bulgaria Ltd. Slovakia Ltd. Czech Corp. Total Cost $ 480,000 90,000 75,000 220,000 Fair value $570,000 620,000 75,000 120,000 $ 1,385,000 $ 865,000 Instructions: Provide the entries to record the year-end adjustments for these FV-NI investments, assuming Falcons uses separate accounts for each investment holding.
Transcribed Image Text:Falcons Corp. has the following portfolio of common shares without significant influence at December 31, 2020: Investment Albania Inc. Bulgaria Ltd. Slovakia Ltd. Czech Corp. Total Cost $ 480,000 90,000 75,000 220,000 Fair value $570,000 620,000 75,000 120,000 $ 1,385,000 $ 865,000 Instructions: Provide the entries to record the year-end adjustments for these FV-NI investments, assuming Falcons uses separate accounts for each investment holding.
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