Cullumber Company has these data at December 31, 2019, the end of its first year of operations.

	Debt Securities		Cost		Fair Value
	Trading		$117,480		$124,100
	Available-for-sale		107,600		103,230

The available-for-sale securities are held as a long-term investment.

Prepare the adjusting entries to report each class of securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31
	(To record unrealized gain/loss on trading securities)
Dec. 31
	(To record unrealized gain/loss on available-for-sale securities)

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List of Accounts

Question Part Score

--/16.7

Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Cullumber Company (Partial) Balance Sheet For the Month Ended December 31, 2019December 31, 2019For the Year Ended December 31, 2019
Total Current LiabilitiesCurrent AssetsTotal AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityProperty, Plant and EquipmentCurrent LiabilitiesInvestmentsTotal Current AssetsTotal Stockholders' EquityStockholders' EquityTotal Property, Plant and Equipment
		$
Total Stockholders' EquityProperty, Plant and EquipmentTotal Property, Plant and EquipmentTotal Liabilities and Stockholders' EquityTotal Current AssetsStockholders' EquityTotal AssetsCurrent AssetsTotal Current LiabilitiesTotal LiabilitiesInvestmentsCurrent Liabilities
Current AssetsStockholders' EquityTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Property, Plant and EquipmentTotal AssetsTotal Current AssetsProperty, Plant and EquipmentInvestmentsTotal Stockholders' EquityCurrent LiabilitiesTotal Current Liabilities
		$

Cullumber Company Income Statement For the Year Ended December 31, 2019December 31, 2019For the Month Ended December 31, 2019
Other Expenses and LossesRevenuesExpensesDividendsOther Revenues and GainsTotal RevenuesTotal Expenses
		$

Cullumber Company Comprehensive Income Statement December 31, 2019For the Month Ended December 31, 2019For the Year Ended December 31, 2019
Other Expenses and LossesRevenuesExpensesDividendsOther comprehensive incomeTotal RevenuesTotal Expenses
LandBuildingsGoodwillUnrealized Loss On Available-For-Sale SecuritiesPrepaid Insurance