At December 31, 2010, the equity investment portfolio for Wenger, Inc. is as follows.

On January 20, 2011, Wenger, Inc. sold investment Afor $15,300. The sale proceeds are net of brokerage fees.

Instructions
(a) Prepare the adjusting entry at December 31, 2010, to report the portfolio at fair value.
(b) Show the statement of financial position presentation of the investment related accounts at December 31, 2010. (Ignore notes presentation.)
(c) Prepare the journal entry for the 2011 sale of investment A.
(d) Repeat requirement (a), assuming the portfolio of investments isnon-trading.

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Fair Value $15,000 14,000 25,500 $54,500 Investment Cost $17,500 12,500 23,000 $53,000 Unrealized Gain (Loss) ($2,500) 1,500 2,500 1,500 Total Previous securities fair value adjustment balance-Dr. 200 Securities fair value adjustment-Dr $1,300