Business, 12.11.2019 19:31, rleiphart1
For several years fister links products has held microsoft bonds, considered by the company to be securities available-for-sale. the bonds were acquired at a cost of $680,000. at the end of 2018, their fair value was $826,000 and their amortized cost was $690,000. at the end of 2019, their fair value was $825,000 and their amortized cost was $700,000.
at what amount will the investment be reported in the december 31, 2019, balance sheet? what adjusting entry is required to accomplish this objective (ignore interest)?
my answer of $825,000 for the balance sheet is correct.
i know the accounts, i just need finding the amount for the adjusting i tried 825,000-700,000=125,000 but that was incorrect
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