Satchel Corporation purchases equity securities costing $73,000 and classifies them as available for sale securities At December 31, the fair value of the portfolio is $65,000 Instructions Prepare the adjusting entry to report the securities properly Indicate the statement presentation of the accou...

The unrealized gains and losses resulting from changes in the fair value ...

Satchel Corporation purchases equity securities costing $73,000 and classifies them as available-for-sale securities. At December 31, the

Question:

Satchel purchases equity securities costing $73,000 and classifies them as available-for-sale securities. At December 31, the fair value of the is $65,000.
Instructions
Prepare the adjusting entry to report the securities 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... 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...