On December 21, 2020, Zurich Company provided you with the following information regarding its trading investments. During

Question:

On December 21, 2020, Zurich Company provided you with the following information regarding its trading investments.

During 2021, Carolina Co. shares were sold for $9,500. The fair value of the shares on December 31, 2021, was Stargate Corp. shares?$19,300; Vectorman Co. shares?$20,500.

Instructions

a. Prepare the adjusting journal entry needed on December 31, 2020.

b. Prepare the journal entry to record the sale of the Carolina Co. shares during 2021.

c. Prepare the adjusting journal entry needed on December 31, 2021.

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Intermediate Accounting

ISBN: 978-1119503668

17th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel

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Question Posted: Dec 05, 2019 06:41 AM

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On December 21, 2020, Zurich Company provided you with the following information regarding its trading investments. During

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a December 31 2020 Unrealized Holding Gain or Loss x I...View the full answer

Intermediate Accounting

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