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Wiffery Company had the following trading securities in its portfolio at December 31.The Market Adjustment - Trading account had balance of zero prior to year-end adjustment.Prepare the appropriate adjusting journal entry.
Crust Thickness
The measure of the depth or the vertical extent of the Earth's crust, varying between oceanic and continental regions.
Rule of Thumb
A widely used guideline or principle that is not strictly accurate or reliable for every situation but provides a good general estimate.
Isostatic Rebound
Uplifting caused by the removal of weight on top of the crust, as when an ice sheet melts away or when erosion strips material off the top of a thick crustal root of a mountain.
Ice Sheet
A large mass of glacier ice that covers an area of over 50,000 square kilometers, often found in polar regions.
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