Trading Securities for Yanu, Inc
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E3-23 At December 31, 2002, the trading securities for Yanu, Inc. are as follows:
Security Cost Fair Value
A 17500 16000
B 12500 14000
C 23000 19000
$53,000 $49,000
Instructions:
(a) Prepare the adjusting entry at December 31, 2002, to report the securities at fair value.
(b) Show the balance sheet and income statement presentation at December 31, 2002, after adjustment to fair value.
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Solution Summary
The solution includes an excel sheet for the preparation of the Adjusting Entries at December 31, 2002 to report the securities at fair value; as well as the Balance Sheet Presentation and Income Statement presentation at the same date after adjustments to fair value.
This answers the problem: E3-23 At December 31, 2002, the trading securities for Yanu, Inc. are as follows
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E3-23 At December 31, 2002, the trading securities for Yanu, Inc. are as follows.
Security Cost Fair Value
A 17500 16000 -1500
B 12500 14000 1500
C ...
Education
- BA, Ain Shams University, Cairo Egypt
- MBA, California State University, Sacramento
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