Question
At December 31, 2017, the available-for-sale debt portfolio for Tamarisk, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A$37,625$32,250$(5,375)B26,87530,1003,225C49,45054,8255,375Total$113,950$117,1753,225Previous fair value adjustment
At December 31, 2017, the available-for-sale debt portfolio for Tamarisk, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A$37,625$32,250$(5,375)B26,87530,1003,225C49,45054,8255,375Total$113,950$117,1753,225Previous fair value adjustment balanceDr.860Fair value adjustmentDr.$2,365
On January 20, 2018, Tamarisk, Inc. sold security A for $32,465. The sale proceeds are net of brokerage fees.
(b)
Show the balance sheet presentation of the investment-related accounts at December 31, 2017.(Do not leave any answer field blank. Enter 0 for amounts.)
TAMARISK, INC
Balance Sheet
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
