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On January 1 , 2 0 1 0 , Valuation Allowance for Investments had a credit balance of $ 1 , 0 0 0 .

On January

1, 2010,

Valuation Allowance for Investments had a credit balance of $

1, 000 .

On December

31, 2010,

the cost of the trading securities portfolio was $

26, 200

and the fair value was $

30, 000 .

Instructions: Prepare the December

31, 2010,

adjusting journal entry to record the unrealized gain or loss on trading investments.

JOURNAL

PAGE

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