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Cash Investment revenue




Problem 12-7;($ in millions);December 29;Cash;Investment revenue;December 31;Accrued interest;Investment revenue receivable - Holistic;Entertainment;Investment revenue receivable - Household;Plastics;Investment revenue;Revaluations;Net unrealized holding gains and losses?OCI;Fair value adjustment;Fair value adjustment;Net unrealized holding gains and losses?I/S;Note: Securities held-to-maturity are not adjusted to fair value.;Closing entry;Net unrealized holding gains and losses?I/S (NXS);Investment revenue;Gain on sale of investments (U.S. Treasury bonds);Loss on sale of investments (Kansas Abstractors);Income summary (to balance);Note: Unlike for securities available-for-sale, unrealized holding gains and losses are included in income for trading securities.;?;2012;January 7;Cash;Loss on sale of investments (to balance);Investment in NXS common shares (account balance);Assuming no other transactions involving trading securities, the 2012 adjusting entry to remove the fair value adjustment associated with the sold securities would be;December 31;Net unrealized holding gains and losses?I/S;Fair value adjustment (account balance)


Paper#81381 | Written in 18-Jul-2015

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