Prepare the december 31 2012 adjusting journal entry to, Ask an Expert

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On January 1, 2012, Valuation Allowance for Trading Investment has a zero balance . On December 31, 2012, the cost of trading securities portfolio was $52,400, and the fair value was $53,000.

Required:

Prepare the December 31, 2012, adjusting journal entry to record the unrealized gain or loss on trading investments.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M939137

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