Uttinger Company has the following data at December 31, 2020. The available-for-sale securities are held as a

Question:

Uttinger Company has the following data at December 31, 2020.

Fair Value Securities Cost Trading $120,000 100,000 $126,000 96,000 Available-for-sale

The available-for-sale securities are held as a long-term investment.

Instructions
a. Prepare the adjusting entries to report each class of securities at fair value.
b. Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts.

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Jan 15, 2019 07:01 AM

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Uttinger Company has the following data at December 31, 2020. The available-for-sale securities are held as a

Question:

Fair Value Securities Cost Trading $120,000 100,000 $126,000 96,000 Available-for-sale

Step by Step Answer:

a Fair Value Adjustment x Trading 126000 120000 6000 Unrealized Gain x In...View the full answer

Accounting Principles

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