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At December 31 2017 the end of its fi rst year of operations the trading securities for Geneva AG are as follows: Security Cost Fair Value

At December 31, 2017, the end of its fi rst year of operations, the trading securities for Geneva, AG are as follows: Security Cost Fair Value A..................CHF17,500...........CHF16,000 B........................12,500.................14,000 C........................23,000.................19,000 .....................CHF53,000...........CHF49,000 Instructions (a) Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (b) Show the statement of financial position and income statement presentation at December 31, 2017, after adjustment to fair value.

Jun 16 2020 View more View Less

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