On December 31, Reggit Company held the following short-term investments in its portfolio of availablefor- sale debt securities. Reggit had no short-term investments in its prior accounting periods. Prepare the December 31 adjusting entry to report these investments at fair value. Available-for-Sale Securities Cost Fair Value Verrizano Corporation bonds $89,600 $91,600 Preble Corporation notes 70,600 62,900 Lucerne Company bonds 86,500 83,100
On December 31, Reggit Company held the following short-term investments in its portfolio of availablefor- sale debt securities. Reggit had no short-term investments in its prior accounting periods. Prepare the December 31 adjusting entry to report these investments at fair value. Available-for-Sale Securities Cost Fair Value Verrizano Corporation bonds $89,600 $91,600 Preble Corporation notes 70,600 62,900 Lucerne Company bonds 86,500 83,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On December 31, Reggit Company held the following short-term investments in its portfolio of availablefor-
sale debt securities. Reggit had no short-term investments in its prior accounting periods. Prepare the
December 31
Available-for-Sale Securities Cost Fair Value
Verrizano Corporation bonds $89,600 $91,600
Preble Corporation notes 70,600 62,900
Lucerne Company bonds 86,500 83,100
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