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At December 31, 2022, the trading debt securities for Blossom, Inc. are as follows. Security (a) A B с Total Cost $17,359 Dec. 31 11,690 21,920 $50,969 Fair Value $16,420 14,443 16,430 $47,293 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit

At December 31, 2022, the trading debt securities for Blossom, Inc. are as follows. Security (a) A B с Total Cost $17,359 Dec. 31 11,690 21,920 $50,969 Fair Value $16,420 14,443 16,430 $47,293 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A3) Hello! I need urgent help with the following accounting question. It is based on preparing adjusting entry at December 31, 2022 to report the securities at fair value. Thank you in advance!

At December 31, 2022, the trading debt securities for Blossom, Inc. are as follows. Security (a) A B с Total Cost $17,359 Dec. 31 11,690 21,920 $50,969 Fair Value $16,420 14,443 16,430 $47,293 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit
Transcribed Image Text:At December 31, 2022, the trading debt securities for Blossom, Inc. are as follows. Security (a) A B с Total Cost $17,359 Dec. 31 11,690 21,920 $50,969 Fair Value $16,420 14,443 16,430 $47,293 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit
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