The following information related to the marketable security investments of Solo Company. Securities held on December 31, 2009, as described in the table below. AAA and BBB are classified as trading securities and CCC is classified as an available-for-sale security. Early in 2010, the company sold 50 shares of BBB for $26 per share. During 2010, Solo received dividends of $3 per share on the remaining 200 shares of BBB. The per-share market value of BBB on December 31, 2010 was $24. During 2011, Solo sold the remaining 200 shares of BBB stock for $26 per share.
The journal entry to record the 2009 revaluation of the BBB securities would be:

Question

The following information related to the marketable security investments of Solo Company. Securities held on December 31, 2009, as described in the table below. AAA and BBB are classified as trading securities and CCC is classified as an available-for-sale security.  Early in 2010, the company sold 50 shares of BBB for $26 per share. During 2010, Solo received dividends of $3 per share on the remaining 200 shares of BBB. The per-share market value of BBB on December 31, 2010 was $24. During 2011, Solo sold the remaining 200 shares of BBB stock for $26 per share.
The journal entry to record the 2009 revaluation of the BBB securities would be:

Quizplus · Accepted Answer

The Answer of The following information related to the marketable security investments of Solo Company. Securities held on December 31, 2009, as described in the table below. AAA and BBB are classified as trading securities and CCC is classified as an available-for-sale security.  Early in 2010, the company sold 50 shares of BBB for $26 per share. During 2010, Solo received dividends of $3 per share on the remaining 200 shares of BBB. The per-share market value of BBB on December 31, 2010 was $24. During 2011, Solo sold the remaining 200 shares of BBB stock for $26 per share.
The journal entry to record the 2009 revaluation of the BBB securities would be:

The Following Information Related to the Marketable Security Investments of Solo