Balance Sheet

CALCULATOR PRINTER VERSION CES NE Exercise 16-12 a-b (Part Level Submission) (Video) Sandhill Company has the following data at December 31, 2020. ) eo) Securities Cost Fair Value Trading sion) $118,600 $123,200 Available-for-sale 103,800 90,600 d sion) The available-for-sale securities are held as a long-term investment. (a) Video) Your answer is correct. Study Prepare the adjusting entries to report: (1) Trading securities at fair value and (2) Available-for-sale securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Debit Credit No. Account Titles and Explanation (1) Fair Value Adjustment-Trading 4600 4600 Unrealized Gain or Loss-Income 13200 Unrealized Gain or Loss-Equity (2) 13200 Fair Value Adjustment-Available-for-Sale sic Rel SHOW ANSWER SHOW SOLUTION SHOW LIST OF ACCOUNTS VIDEO: SIMILAR EXERCESE UINK TO TE By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your Instructor. g thre aleva. Attempts: 1 of 3 used (b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts. Sandhill Company Balance Sheet (Partial) ion ion) Video) Study Sandhill Company Income Statement (Partial) Sandhill, Company Comprehensive Income Statement g th elev ith. SHOW LIST OF ACCOUNTS VIDEO SIMIAR EXERCESE VIDEO: SIMILAR EXERCESE LNE TO TET