Question
At December 31, 2017, the available-for-sale debt portfolio for Sweet, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $39,375 $33,750 $(5,625
At December 31, 2017, the available-for-sale debt portfolio for Sweet, Inc. is as follows.
| Security | Cost | Fair Value | Unrealized Gain (Loss) | ||||
| A | $39,375 | $33,750 | $(5,625 | ) | |||
| B | 28,125 | 31,500 | 3,375 | ||||
| C | 51,750 | 57,375 | 5,625 | ||||
| Total | $119,250 | $122,625 | 3,375 | ||||
| Previous fair value adjustment balanceDr. | 900 | ||||||
| Fair value adjustmentDr. | $2,475 | ||||||
On January 20, 2018, Sweet, Inc. sold security A for $33,975. The sale proceeds are net of brokerage fees.
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Payroll Accounting 2022
Authors: Bernard J. Bieg, Judith A. Toland
32nd Edition
0357518756, 9780357518755
