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Question 7. 7.
(TCO B) The following information pertains to Fox Inc.’s portfolio of
marketable securities for the Year ended Dec 31, Year 1 and Dec 31,
Year 2.
Cost Fair Value at
Record the journal entries for the following marketable securities
transactions based on the information given in the table.
1.
Mark to market journal entry for the Smith Co security at 12/31
Year 1
2.
Mark to market journal entry for the Jones Co security at 12/31
Year 1
3.
Mark to market journal entry for the Williams Co security at
12/31 Year 1
4.
Mark to market journal entry for the Gores Co security at 12/31
Year 1
5.
Mark to market journal entry for the Smith Co security at 12/31
Year 2
6.
Mark to market journal entry for the Jones Co security at 12/31
Year 2
7.
Mark to market journal entry for the Williams Co security at
12/31 Year 2
8.
Mark to market journal entry for the Gores Co security at 12/31
Year 2
9.
Journal entry to record purchase of Martin Co. Investment
10.
Journal entry to record the impairment of Martin Co. Investment
(Points : 30)
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ACCT 551 Midterm Exam Set 1
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