Question
Question 3 --/1 View Policies Current Attempt in Progress Nash Corporation purchases equity securities costing $78,000....
Question 3 --/1 View Policies Current Attempt in Progress Nash Corporation purchases equity securities costing $78,000. At December 31, the fair value of the portfolio is $71,600. Prepare the adjusting entry to report the securities properly, assuming that the investments purchased represent less than a 5% interest in the other companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit
Answers
Account Debit Credit Unrealized holding gain or loss 6400 Fair value adjustment (78,000-71,600) 6400 Comment if you face any issues
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