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Wiffery company had the following trading securities in its

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Wiffery Company had the following trading securities in its portfolio at December 31. The Fair Value Adjustment - Trading account had a balance of zero prior to year- end adjustment. Prepare the appropriate adjusting journal entry.

Short Term Investments Cost Fair Value

  • XBM $24,500 $25,900
  • Micro $51,000 $48,600
  • Outel $62,300 $61,000
  • Dull $29,900 $30,200
  • Totals $167,700 $165,700

Reference no: EM13581656

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