At December 31, 2020, the end of its first year of operations, the trading securities for Geneva AG are as follows.

Instructions
a. Prepare the adjusting entry at December 31, 2020, to report the securities at fair value.
b. Show the statement of financial position and income statement presentation at December 31, 2020, after adjustment to fair value.

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Cost Security Fair Value CHF17,500 A CHF16,000 B 12,500 23,000 14,000 19,000 CHF53,000 CHF49,000