Fair Value Journal Entries, Trading Investments The investments of Charger Inc. include a single investment:...
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Fair Value Journal Entries, Trading Investments The investments of Charger Inc. include a single investment: 23,000 shares of Raiders, Inc. common stock purchased on February 24, Year 1, for $30 per share including brokerage commission. These shares were classified as trading securities. As of the December 31, Year 1, balance sheet date, the share price increased to $40 per share. a. Journalize the entries to acquire the investment on February 24, and record the adjustment to fair value on December 31, Year 1. Year 1 Feb. 24 Year 1 Dec. 31 b. How is the unrealized gain or loss for trading investments reported on the financial statements? The unrealized gain or unrealized loss for trading investments is disclosed in the as
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