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E17-8B (Available-for-Sale Securities Entries and Reporting) U-For Corporation purchases equity securities costing $163,480 and classifies them as available-for-sale securities. At December 31, the fair value of the portfolio is $167,500. Instructions Pre

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E17-8B (Available-for-Sale Securities Entries and Reporting) U-For Corporation purchases equity securities costing $163,480 and classifies them as available-for-sale securities. At December 31, the fair value of the portfolio is $167,500.;Instructions;Prepare the adjusting entry to report the securities properly and indicate the statement presentation of the accounts in your entry.

 

Paper#78458 | Written in 18-Jul-2015

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