White corp transfers securities from one category to


White Corp. Transfers securities from one category to another. The cost of the securities is $20,000; the fair market value is $22,000. Prepare an entry if:

(a) The securities are transferred from the trading category to the available-for-sale category.

(b) The securities are transferred from the available-for-sale category to the trading category.

(c) The securities are transferred from the held-to-maturity category to the available-for-sale category.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: White corp transfers securities from one category to
Reference No:- TGS0781315

Now Priced at $10 (50% Discount)

Recommended (93%)

Rated (4.5/5)