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Accounting

Weaver Company has the following data at December 31, 2010 for its securities.

Securities Cost Fair Value
Trading $90,000 $92,000
Available-for-sale 74,000 71,000

Instructions

(a) Prepare the adjusting entries to report the securities at fair value.

(b) Indicate the statement presentation of the related unrealized gain (loss) accounts for each class of securities.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M973854

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