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Category > Business & Finance Posted 31 May 2017 My Price 11.00

Available-for-Sale Securities Entries

Available-for-Sale Securities Entries and Financial Statement Presentation at December 31, 2010, the available-for-sale equity portfolio for Wenger, Inc. is as follows. On January 20, 2011, Wenger, Inc. sold security A for $15,300. The sale proceeds are net of brokerage fees.
(a) Prepare the adjusting entry at December 31, 2010, to report the portfolio at fair value.
(b) Show the balance sheet presentation of the investment related accounts at December 31, 2010. (Ignore notes presentation.)
(c) Prepare the journal entry for the 2011 sale of securityA.

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Status NEW Posted 31 May 2017 05:05 AM My Price 11.00

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