At december 31 2014 the trading securities for oglesbee inc, Ask an Expert

Accounting

At December 31, 2014, the trading securities for Oglesbee, Inc. are as follows. Security Cost Fair Value A $17,600 $16,400 B 12,300 14,400 C 23,000 18,800 Total $52,900 $49,600

(a) Prepare the adjusting entry at December 31, 2014, to report the securities at fair value.

(b) Show the balance sheet and income statement presentation at December 31, 2014, after adjustment to fair value.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9990573

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