Bramble Corp. gave you the following information about its investment in Fahad Corp. shares purchased in May 2020 and accounted for using the FV-OCI method:

Cost

$41,400

Fair value, December 31, 2020

$44,750

Fair value, December 31, 2021

$33,100

Fair value, December 31, 2022

$37,000

Prepare the adjusting journal entries needed on December 31, 2020, 2021, and 2022. (Credit account titles are automatically indented when the 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.)

Date

Account Titles and Explanation

Debit

Credit

Dec. 31, 2020

enter an account title for the adjusting journal entry on December 2020

enter a debit amount

enter a credit amount

enter an account title for the adjusting journal entry on December 2020

enter a debit amount

enter a credit amount

Dec. 31, 2021

enter an account title for the adjusting journal entry on December 2021

enter a debit amount

enter a credit amount

enter an account title for the adjusting journal entry on December 2021

enter a debit amount

enter a credit amount

Dec. 31, 2022

enter an account title for the adjusting journal entry on December 2022

enter a debit amount

enter a credit amount

enter an account title for the adjusting journal entry on December 2022

enter a debit amount

enter a credit amount

Determine the balance in accumulated other comprehensive income on the statement of financial position on each of December 31, 2020, 2021, and 2022. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

December 31, 2020 December 31, 2021 December 31, 2022

Balance at year end

$enter a dollar amount $enter a dollar amount $enter a dollar amount

Assume that Bramble sold its investment in Fahad Corp. on February 13, 2023, for $39,500. Prepare the journal entries needed, including reclassifying holding gains or losses to retained earnings on this date, assuming the investments are in shares and no recycling to net income is recorded. (Credit account titles are automatically indented when the 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.)

Date

Account Titles and Explanation

Debit

Credit

Feb. 13, 2023

enter an account title to adjust to fair value at date of disposal on February 13, 2023

enter a debit amount

enter a credit amount

enter an account title to adjust to fair value at date of disposal on February 13, 2023

enter a debit amount

enter a credit amount

(To adjust to fair value at date of disposal)

Feb. 13, 2023

enter an account title to record disposal on February 13, 2023

enter a debit amount

enter a credit amount

enter an account title to record disposal on February 13, 2023

enter a debit amount

enter a credit amount

(To record disposal)

Feb. 13, 2023

enter an account title to reclassify holding loss on February 13, 2023

enter a debit amount

enter a credit amount

enter an account title to reclassify holding loss on February 13, 2023

enter a debit amount

enter a credit amount

(To reclassify holding loss)

What will be the balance in Accumulated Other Comprehensive Income on December 31, 2023? (If an answer is zero, please enter 0. Do not leave any fields blank.)

Balance in Accumulated Other Comprehensive Income

$enter the Balance in Accumulated Other Comprehensive Income in dollars

View Policies Current Attempt in Progress Bramble Corp save you the following information about its investment in Fahad Corp.shares purchased in Mw 2020 and accounted for using the FV-OCi method: $41.400 $14.750 Cost Fair value, December 31, 2020 Fair value, December 31, 2021 Fair value, December 31, 2022 $33,100 $37.000 Prepare the adjusting journal entries needed on December 31, 2020, 2021, and 2022. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Dec. 31. 2020 Prepare the adjusting journal entries needed on December 31, 2020.2021, and 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31. 2020 Dec 31, 2021 Dec 31 2022 Determine the balance in accumulated other comprehensive income on the statement of financial position on each of December 31, 2020, 2021, and 2022. (Enter negative amount using either a negative sign preceding the number 4.8. -45 or parentheses e.g. (45).) December 31, 2020 December 31, 2021 December 31, 2022 $ $ Balance at year end Assume that Bramble sold its Investment in Fahad Corp. on February 13, 2023, for $39,500. Prepare the journal entries needed. including reclassifying holding gains or losses to retained earnings on this date, assuming the investments are in shares and no recycling to net income is recorded. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts.) Assume that Bramble sold its inwestment in Fahad Corp. on February 13, 2023, for $39.500. Prepare the journal entries needed including reclassifying holding gains or losses to retained earnings on this date, assuming the investments are in shares and no recycling to net income is recorded. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Feb. 13 2023 (To adjust to fair value at date of disposal) Feb. 13 2023 (To record disposal) Feb. 13. 2023 terlina 2023 (To reclassify holding loss) What will be the balance in Accumulated Other Comprehensive Income on December 31, 2023? (If an answer is zero, please enter 0. Do not leave any fields blank.) Balance in Accumulated Other Comprehensive Income $