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Available-for-sale securities: Bender Co. purchased short-term investments in available-for-sale securities at a cost of $100,000 on November 25, 2011. At December 31, 2011, these securities had a fair value of $94,000. This is the first and only time the company has purchased such securities.
A. Prepare the December 31, 2011, year-end adjusting entry for the securities' portfolio.
B. Prepare the April 6, 2112, entry when Bender sells one-half of these securities for $52,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940432

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