Player Corporation makes an equity investment costing $73,000 and classifies it as non-trading. At December 31, the

Question:

Player Corporation makes an equity investment costing $73,000 and classifies it as non-trading. At December 31, the fair value of the investment is $67,000.

Instructions

Prepare the adjusting entry to report the investments properly. Indicate the statement presentation of the accounts in your entry.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...