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At December 31, 2020, the trading securities for Paul Company are as follows:        Security           ...

At December 31, 2020, the trading securities for Paul Company are as follows:

       Security            Cost           Fair Value

            AXZ        $116,000         $120,000

            BKY        134,000         132,000

                           $250,000         $252,000

Prepare the adjusting entry at December 31, 2020, to report the securities at fair value (show the steps please)

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Answers: Security Cost fais vale x 2 $116000 $120000 BKY $ 134000 $132000 XXX $250000 $ 252000 $ 500000 $50wpoo Adjusting ent

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