Research in Motion (RIM) Limited (now called BlackBerry) reported the following (adapted)…
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Research in Motion (RIM) Limited (now called BlackBerry) reported the following (adapted) information in the notes accompanying its 2011 financial statements: Current Assets (in millions of U.S. dollars) Cash……………………………………………………………….$ 288 Short-term investments (fair value)………………………………$2,410 Assume that the carrying value of RIM’s short-term investments is $2,405 million prior to the year-end adjustment to fair value. Required Write a note to identify the method used to report short-term investments, and to disclose cost and fair value. Show the journal entry that would have been made by RIM if you determine that a journal entry was needed at year end. View Solution:
Research in Motion RIM Limited now called BlackBerry reported the
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