Exercise 15-6 (Algo) Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Lujack Company held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Computation of fair value adjustment. Available-for-Sale Securities es Nintendo Company notes Atlantic bonds Kellogg Company notes McDonald's Corporation bonds Totals Computation of Fair Value Adjustment Cost Fair Value Unrealized Amount Gain or Loss? $ 88,200 $ 96,138 35,280 32,810 63,504 59,694 119,070 113,117 $ 306,054 $ 301,759 < Fair Value Adjustment General Journal >

Exercise 15-6 (Algo) Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Lujack Company held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Computation of fair value adjustment. Available-for-Sale Securities es Nintendo Company notes Atlantic bonds Kellogg Company notes McDonald's Corporation bonds Totals Computation of Fair Value Adjustment Cost Fair Value Unrealized Amount Gain or Loss? $ 88,200 $ 96,138 35,280 32,810 63,504 59,694 119,070 113,117 $ 306,054 $ 301,759 < Fair Value Adjustment General Journal >

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter10: Long-term Liabilities

Section: Chapter Questions

Problem 10.17MCE

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