Sale investment in the bonds


Hillsborough Corporation has an available-for-sale investment in the bonds of Schuyler with a carrying (and fair) value of $88,020. Hillsborough found that due to poor economic prospects for Schuyler, the bonds have decreased in value to $57,020. This is determined that this loss in value is other-than temporary. Make the journal entry, if any, to record the decrease in value.

Request for Solution File

Ask an Expert for Answer!!
Finance Basics: Sale investment in the bonds
Reference No:- TGS015913

Expected delivery within 24 Hours