The cost of the trading securities of Cepeda Company at December 31, 2015, is $75,000. At December 31, 2015, the fair value of the securities is $71,000. Prepare the adjusting entry to record the securities at fair value.
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The cost of the trading securities of Cepeda Company at December 31, 2015, is $75,000. At December 31, 2015, the fair value of the securities is $71,000. Prepare the adjusting entry to record the securities at fair value.
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- The cost of the trading securities of Cepeda Company at December 31, 2011, is $62,000. At December 31, 2011, the fair value of the securities is $59,000. Prepare the adjusting entry to record the securities at fair value.AnsPrepare adjusting entry using fair value. BEH.4 (LO 3), AP Cost and fair value data for the trading debt securities of Lecler Company at December 31, 2022, are $62,000 and $59,600, respectively. Prepare the adjusting entry to record the securities at fair value. Indicate statement presentation using fair value.
- Oriole Company has these data at December 31, 2027, the end of its first year of operations. Debt Securities Trading Cost Fair Value $120,900 $125,900 Available-for-sale 100,400 98,400 The available-for-sale securities are held as a long-term investment. (a) Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation (1) (2) 5月 70 Rusiness Debit Credit Accounting stv all AWeaver Company has the following data at December 31, 2015 for its securities: Securities COST FAIR VALUE Debt Investments - Trading 90,000 87,000 Debt Investments - Available for sale 74,000 75,000 Stock Investments 80,000 76,000 Prepare the adjusting entries to report the securities at fair value. On what financial statement and in what section of that statement would each of the above accounts be reported. (6 all together) a Date Account Title Debit CreditPharoah Company has these data at December 31, 2022, the end of its first year of operations. Debt Securities Trading Available-for-sale (a) Cost $119,700 100,300 The available-for-sale securities are held as a long-term investment. Fair Value $125,700 98,300 Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation (1) Debit Credit
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- At December 31, 2027, the trading debt securities for Wildhorse, Inc. are as follows. Security Cost Fair Value A $17,900 $15,900 B 12,300 13,900 C 22,600 18,500 $52,800 $48,300 (a) Prepare the adjusting entry at December 31, 2027, to report the securities at fair value. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit CreditAt December 31, 2020, the cost and fair value trading securities for Crane, Inc. are as follows. Security Cost Fair Value A $18,800 $17,800 B 13,100 14,800 C 22,400 19,700 $54,300 $52,300 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List debit entry before credit entry.)At December 31, 2020, the trading securities for Crane, Inc. are as follows. Security Cost Fair Value A $17,500 $16,100 B 12,600 13,900 C 23,100 19,100 $53,200 $49,100 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31
