Solution:
a. Adjusting entry:
b. Balance sheet presentation:
Assets | |
---|---|
Current Assets | |
Available for sale securities | $54,500 |
Liabilities and stockholders' equity | |
Accumulated other comprehensive income* | $1,500 |
*$1,500 of amount contained in Fair value adjustment account were added to OCI.
C. Journal entry for the 2018 sale of security A:
E17-9 (L01) (Available-for-Sale Debt Securities Entries and Financial Statement Presentation) At December 31, 2017, the available-for-sale...
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