Yanu, Inc. Trading Securities: adjusting entries, balance sheet presentation
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At December 31, 2002, the trading securities for Yanu, Inc. are as follows
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
In Excel and in summary form, the response shows the adjusting journal entries and the partial balance sheet presentation for the trading securities for Yanu, Inc.
Solution Preview
Please see the attached file.
Adjusting Entries
Date Account Titles & Explanations Debit Credit
Dec. 31 Unrealized Loss- Equity $1,500
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Education
- BA, Ain Shams University, Cairo Egypt
- MBA, California State University, Sacramento
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