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Selected accounts from GermX Co.’s adjusted trial balance for the year ended December 31 follow. Prepare the assets section of a classified balance sheet. Hint: Fair Value Adjustment—Trading increases trading securities; Fair Value Adjustment—Stock decreases stock investments. Trading securities (at cost). $ 5,000 Cash . $10,000 Short-term stock investments (at cost). 23,000 Fair value adjustment—Stock . (1,000) Equity method investments. 70,000 Accounts receivable. 2,000 Held-to-maturity securities (long-term). 13,000 Fair value adjustment—Trading. 500

Selected accounts from GermX Co.’s adjusted trial balance for the year ended December 31 follow. Prepare the assets section of a classified balance sheet. Hint: Fair Value Adjustment—Trading increases trading securities; Fair Value Adjustment—Stock decreases stock investments. Trading securities (at cost). $ 5,000 Cash . $10,000 Short-term stock investments (at cost). 23,000 Fair value adjustment—Stock . (1,000) Equity method investments. 70,000 Accounts receivable. 2,000 Held-to-maturity securities (long-term). 13,000 Fair value adjustment—Trading. 500

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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Selected accounts from GermX Co.’s adjusted trial balance for the year ended December 31 follow.
Prepare the assets section of a classified balance sheet. Hint: Fair Value Adjustment—Trading increases
trading securities; Fair Value Adjustment—Stock decreases stock investments. Trading securities (at cost). $ 5,000 Cash . $10,000
Short-term stock investments (at cost). 23,000 Fair value adjustment—Stock . (1,000)
Equity method investments. 70,000 Accounts receivable. 2,000
Held-to-maturity securities (long-term). 13,000 Fair value adjustment—Trading. 500

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