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Exercise H-6 At December 31, 2017, the trading securities for Tamarisk, Inc. are as follows. Security Cost Fair Value $17,100 $15,500 14,000 18,500 Total $52,500$48,000
Exercise H-6 At December 31, 2017, the trading securities for Tamarisk, Inc. are as follows. Security Cost Fair Value $17,100 $15,500 14,000 18,500 Total $52,500$48,000 12,200 23,200 Prepare the adjusting entry at December 31, 2017, to report the securities at fair value. (Credit a Date Account Titles and Explanation Debit Credit Dec. 31 Unrealized Gain or Loss - Equity 4500 Fair Value Adjustment-Available-For-Sale 4500 Show the balance sheet and income statement presentation at December 31, 2017, after adjustment to fair value. Tamarisk, Inc. Balance Sheet Tamarisk, Inc. Income Statement Click if you would like to Show Work for this question: Open Show Work
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