Question
Exercise 17-9 (Part Level Submission) At December 31, 2017, the available-for-sale debt portfolio for Ivanhoe, Inc. is as follows. Security Cost Fair Value Unrealized Gain
Exercise 17-9 (Part Level Submission)
At December 31, 2017, the available-for-sale debt portfolio for Ivanhoe, Inc. is as follows.
| Security | Cost | Fair Value | Unrealized Gain (Loss) | ||||
| A | $39,375 | $33,750 | $(5,625 | ) | |||
| B | 28,125 | 31,500 | 3,375 | ||||
| C | 51,750 | 57,375 | 5,625 | ||||
| Total | $119,250 | $122,625 | 3,375 | ||||
| Previous fair value adjustment balanceDr. | 900 | ||||||
| Fair value adjustmentDr. | $2,475 | ||||||
On January 20, 2018, Ivanhoe, Inc. sold security A for $33,975. The sale proceeds are net of brokerage fees.
Show the balance sheet presentation of the investment-related accounts at December 31, 2017. (Do not leave any answer field blank. Enter 0 for amounts.)
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Primary Science Audit And Test
Authors: Jenny Byrne, Andri Christodoulou, John Sharp
4th Edition
1446282732, 978-1446282731
