On December 31, Reggit Company held the following short-term investments in its portfolio of available-for-sale debt securities. Reggit had no short-term investments in its prior accounting periods. Available-for-Sale Securities Verrizano Corporation bonds Preble Corporation notes Lucerne Company bonds epare the December 31 adjusting entry to report these investments at fair value. Fair Value Adjustment Computation of fair value adjustment. General Journal Complete this question by entering your answers in the tabs below. Cost $ 76,000 57,000 72,000 Verrizano Corporation bonds Preble Corporation notes Lucerne Company bonds Total Fair Value Adjustment Computation - Available for Sale Portfolio Unrealized Amount $ Cost Fair Value $74,480 50,730 69,120 Fair Value 76,000 $ 74,480 57,000 50,730 72,000 69,120 $ 205,000 $ 194,330 Fair Value Adjustment Unrealized Loss General Journal >

On December 31, Reggit Company held the following short-term investments in its portfolio of available-for-sale debt securities. Reggit had no short-term investments in its prior accounting periods. Available-for-Sale Securities Verrizano Corporation bonds Preble Corporation notes Lucerne Company bonds epare the December 31 adjusting entry to report these investments at fair value. Fair Value Adjustment Computation of fair value adjustment. General Journal Complete this question by entering your answers in the tabs below. Cost $ 76,000 57,000 72,000 Verrizano Corporation bonds Preble Corporation notes Lucerne Company bonds Total Fair Value Adjustment Computation - Available for Sale Portfolio Unrealized Amount $ Cost Fair Value $74,480 50,730 69,120 Fair Value 76,000 $ 74,480 57,000 50,730 72,000 69,120 $ 205,000 $ 194,330 Fair Value Adjustment Unrealized Loss General Journal >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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