Exercise 15 6 Algo Fair Value Adjustment To Available For Sale Debt Securities Lo P3 On December 31 Lujack Company He 1 (38.92 KiB) Viewed 62 times
Exercise 15 6 Algo Fair Value Adjustment To Available For Sale Debt Securities Lo P3 On December 31 Lujack Company He 2 (34.1 KiB) Viewed 62 times
Exercise 15-6 (Algo) Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Lujack Company held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Unrealized Amount Gain or Loss? Computation of fair value adjustment Computation of Fair Value Adjustment Available for Sale Securities Cost Fair Value Nintendo Company notes $ 50,100 $ 54,609 Atlantic bonds 20.040 18,637 Kellogg Company notes 36,072 33.908 McDonald's Corporation bonds 67.635 64,253 Totals $ 173,847 $ 171,407 Cale YA General Journal >
Fair Value Adjustment General Journal Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the year-end adjustment to fair value, If any. Note: Enter debits before credits, General Journal Debit Credit Date December 31 Record entry Clear entry View general Journal
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