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Oct 4th, 2015
Price: $5 USD

Question description

On December 31, 2013, Reggit Company held the following short-term investments in its portfolio of available-for-sale securities. Reggit had no short-term investments in its prior accounting periods.

CostFair Value
 Verrizano Corporation bonds payable$64,500$59,300
 Preble Corporation notes payable58,20050,600
 Lucerne Company common stock83,80080,800

Prepare the December 31, 2013, adjusting entry to report these investments at fair value.

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