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ad-work [718]
4 years ago
13

During the current year, Reed Consulting Group acquired long-term available-for-sale securities at a $70,000 cost. At its Decemb

er 31 year-end, these securities had a fair value of $58,000. This is the first and only time the company purchased such securities.Prepare the necessary year-end adjusting entry related to these securities.
Business
1 answer:
kipiarov [429]4 years ago
3 0

Answer:

Account                                             Debit                             Credit

Unrealized loss (Equity)                    $12,000

Fair Value adjustment (Avaliable                                         $12,000

for sale)

Explanation:

Given Data:

Long-term available-for-sale securities=$70,000

December 31, Securities fair values=$58,000

Required:

The necessary year-end adjusting entry related to these securities.

Solution:

Unrealized Loss occurred=$70,000-$58,000

unrealized Loss occurred=$12,000

Adjusting entry:

Account                                             Debit                             Credit

Unrealized loss (Equity)                    $12,000

Fair Value adjustment (Avaliable                                         $12,000

for sale)

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Answer:

<u><em></em></u>

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<u><em></em></u>

Explanation:

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Hence, the only choice that contains two of those <em>attributes </em>is D.

<em>AQCD</em> are criteria that the factors used in a SWOP analysis must meet to ensure that the factors are as specific as possible. This is, the the external and internal factors in the SWOP analysis should be stated in the most <em>actionable, quantitative, comparative, and divisional </em>terms to avoid vagueness.

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____ provides updated traffic reports that highlight routes with congestion, construction, or accidents that might cause delays.
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The answer is:<span>
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C. by the local franchisee.

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<h3>What is a franchise?</h3>

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