Edwards Company began business in February 2010. During the year, Edwards purchased the three trading securities listed below. On its December 31, 2010, balance sheet, Edwards appropriately reported a $4,000 debit balance in its Market Adjustment--Trading Securities account. There was no change in 2011 in the composition of Edward's portfolio of marketable equity securities held as a temporary investment. Pertinent data are as follows:

What amount should Edwards credit to the Market Adjustment--Trading Securities account at December 31, 2011?

Question

Edwards Company began business in February 2010. During the year, Edwards purchased the three trading securities listed below. On its December 31, 2010, balance sheet, Edwards appropriately reported a $4,000 debit balance in its Market Adjustment--Trading Securities account. There was no change in 2011 in the composition of Edward's portfolio of marketable equity securities held as a temporary investment. Pertinent data are as follows:

What amount should Edwards credit to the Market Adjustment--Trading Securities account at December 31, 2011?

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The Answer of Edwards Company began business in February 2010. During the year, Edwards purchased the three trading securities listed below. On its December 31, 2010, balance sheet, Edwards appropriately reported a $4,000 debit balance in its Market Adjustment--Trading Securities account. There was no change in 2011 in the composition of Edward's portfolio of marketable equity securities held as a temporary investment. Pertinent data are as follows:

What amount should Edwards credit to the Market Adjustment--Trading Securities account at December 31, 2011?

Edwards Company Began Business in February 2010