Rider Company Had the Following Portfolio of Securities at the End

question 81

Essay

Rider Company had the following portfolio of securities at the end of its first year of operations:

(1)Provide the entry necessary to adjust the portfolio of securities to market value.
(2)After adjusting the securities to market,Rider elects to reclassify Security B as an available-for-sale security.On the date of the transfer,Security B's market value is $26,000.Provide the journal entry to reclassify Security B.

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Definitions:

Y Chromosome

The sex chromosome typically associated with male biological characteristics in humans and most other mammals, partnered with an X chromosome in males.

Primary Sex Characteristic

Physical features that are directly involved in reproduction, such as the ovaries in females and the testes in males.

Ovaries

Female reproductive organs that produce eggs and hormones, including estrogen and progesterone.

Adrenal Glands

Small glands located above the kidneys that produce hormones such as adrenaline and cortisol, which are involved in stress responses.