Assuming the securities are classified as trading

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Reference no: EM131206405

The following information is available for ABC Corporation at 12/31/14 regarding its investments in stocks of other companies.

Securities Cost Fair Value

2,200 shares of Toyota Corporation Common Stock $100,000 $116,000

1,100 shares of G.M. Corporation Common Stock $67,000 $84,000

= $167,000 $200,000

Prepare the adjusting entry (if any) for 2014, assuming the securities are classified as trading.

Reference no: EM131206405

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