French Broad Industries Inc. Pisgah Construction Inc. 74,100 98,400 $351,060 Required: a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31.0
French Broad Industries Inc. Pisgah Construction Inc. 74,100 98,400 $351,060 Required: a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31.0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations:
Issuing Company
4
Arden Enterprises Inc.
Pisgah Construction Inc.
French Broad Industries Inc. 65,550
F4
R
The fair value of the various available-for-sale securities on December 31, 20Y5, was as follows:
F
Issuing Company
Arden Enterprises Inc.
Pisgah Construction Inc.
Q Search
French Broad Industries Inc.
V
C
F5
%
dº 5
T
G
$148,800
B
Cost
F6
6
104,960
$319,310
Fair Value, Dec. 31, 20Y5
Y
H
$178,560
74,100
98.400
F7
&
7
N
LOPING
U
F8
J
*
8
M
F9
K
(
9
18
F10
O
V
0
L
}
F11
P
V
F12
PrtSc
+ 11
Insert
1
4x
D
Bac

Transcribed Image Text:M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations:
Issuing Company
4
Arden Enterprises Inc.
Pisgah Construction Inc.
French Broad Industries Inc. 65,550
F4
R
The fair value of the various available-for-sale securities on December 31, 20Y5, was as follows:
F
Issuing Company
Arden Enterprises Inc.
Pisgah Construction Inc.
Q Search
French Broad Industries Inc.
V
C
F5
%
dº 5
T
G
$148,800
B
Cost
F6
6
104,960
$319,310
Fair Value, Dec. 31, 20Y5
Y
H
$178,560
74,100
98.400
F7
&
7
N
LOPING
U
F8
J
*
8
M
F9
K
(
9
18
F10
O
V
0
L
}
F11
P
V
F12
PrtSc
+ 11
Insert
1
4x
D
Bac
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