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At December 31, 2020, the trading securities for Crane, Inc. are as follows. Security   Cost   Fair Value A   $17,500   $16,100 B   12,600   13,900 C   23,100   19,100     $53,200   $49,100             (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when 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 Dec. 31

At December 31, 2020, the trading securities for Crane, Inc. are as follows. Security   Cost   Fair Value A   $17,500   $16,100 B   12,600   13,900 C   23,100   19,100     $53,200   $49,100             (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when 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 Dec. 31

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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At December 31, 2020, the trading securities for Crane, Inc. are as follows.

Security
  
Cost
  
Fair Value
A   $17,500   $16,100
B   12,600   13,900
C   23,100   19,100
    $53,200   $49,100
 
 
 
 
 
 

(a)

Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when 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
Dec. 31
 
 
 
 
 
 
 
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