Asked by Andrew
Hillsborough Co. has an available-for-sale investment in the bonds of Schuyler with a carrying (and fair) value of $ 85,540. Hillsborough determined that due to poor economic prospects for Schuyler, the bonds have decreased in value to $ 59,710. It is determined that this loss in value is other-than temporary. Prepare the journal entry, if any, to record the reduction in value.
Answers
Answered by
JACK
Hillsborough Co. has an available-for-sale investment in the bonds of Schuyler with a carrying (and fair) value of $90,220. Hillsborough determined that due to poor economic prospects for Schuyler, the bonds have decreased in value to $58,450. It is determined that this loss in value is other-than temporary. Prepare the journal entry, if any, to record the reduction in value.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.