Question
At December 31, 2020, the available-for-sale debt portfolio forSteffi Graf, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A$17,500$15,000$(2,500)B12,50014,0001,500C23,00025,5002,500Total$53,000$54,5001,500Previous fair value adjustment
At December 31, 2020, the available-for-sale debt portfolio forSteffi Graf, Inc. is as follows.
Security
Cost
Fair Value
Unrealized
Gain (Loss)
A$17,500$15,000$(2,500)B12,50014,0001,500C23,00025,5002,500Total$53,000$54,5001,500Previous fair value adjustment balanceDr.400Fair value adjustmentDr.$1,100
On January 20, 2021,Steffi Graf, Inc. sold security A for $15,100. The sale proceeds are net of brokerage fees.
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Managerial Accounting
Authors: Karen BraunWendy Tietz
3rd Edition
0132890542, 978-0132890540
