Refer to the information in RE13-3. Assume that on December 31, 2013, the investment in Todd Corporation

Question:

Refer to the information in RE13-3. Assume that on December 31, 2013, the investment in Todd bonds has a market value of $22,300, and the investment in Cornett Company stock has a market value of $10,500. Prepare the year-end journal entry to record the unrealized gain or loss.
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...