On January 1, 2010, Valuation Allowance for Trading Investments has a credit balance of $1,200 On December 31, 2010, the cost of the trading securities portfolio was $99,600, and the fair value was $91,200 Prepare the December 31, 2010 adjusting journal entry to record the unrealized gain or loss o...

Date Particulars Unrealized Loss on Trading securities Valuation Allowance for Tradin ...

On January 1, 2010, Valuation Allowance for Trading Investments has a credit balance of $1,200. On December

Question:

On January 1, 2010, Valuation Allowance for Trading Investments has a credit balance of $1,200. On December 31, 2010, the cost of the trading securities was $99,600, and the fair value was $91,200. Prepare the December 31, 2010 adjusting journal entry to record the unrealized gain or loss on trading investments.

Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...