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

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
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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