On January 1, 2016, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2016,

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On January 1, 2016, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2016, the cost of the available-for-sale securities was $78,400, and the fair value was $72,600. Prepare the adjusting entry to record the unrealized gain or loss on available-for-sale investments on December 31, 2016.
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Accounting

ISBN: 978-1285743615

26th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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