Cost and fair value data for the trading debt securities of Wildhorse Company at December 31, 2022, are $60,500 and $57,450 respectively. Prepare the adjusting entry to record the securities at fair value. (List all debit entries before credit entries. 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 enter an account title for the adjusting entry on December 31 enter a debit amount enter a credit amount   enter an account title for the adjusting entry on December 31 enter a debit amount enter a credit amount

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cost and fair value data for the trading debt securities of Wildhorse Company at December 31, 2022, are $60,500 and $57,450 respectively.

Prepare the adjusting entry to record the securities at fair value. (List all debit entries before credit entries. 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

enter an account title for the adjusting entry on December 31

enter a debit amount

enter a credit amount

 

enter an account title for the adjusting entry on December 31

enter a debit amount

enter a credit amount

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