Question
Carpark Services began operations in 20X1 and holds long-term investments in available-for-sale debt securities. Set forth below are the year-end cost and fair values of
Carpark Services began operations in 20X1 and holds long-term investments in available-for-sale debt securities. Set forth below are the year-end cost and fair values of your portfolio of these debt securities.
| Available for sale securities | Cost | fair value | |||
| December 31, 20X1 | ps | 250.000 | ps | 241,000 | |
| December 31, 20X2 | ps | 340.000 | ps | 350.000 | |
Record the year-end adjusting entry for the unrealized gain/loss at 31 December 20X1.
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SOLUTION The journal entry to record the unrealized gainloss at 31 December 20X1 is as follows Debit ...
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
