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SnowCap Corp. has the following portfolio of common shares (without significant influence) at December 31, 2020: Investment Fair Value Cost Skiis R Us. $360,000 $431,250

SnowCap Corp. has the following portfolio of common shares (without significant influence) at December 31, 2020:

Investment Fair Value Cost

Skiis R Us. $360,000 $431,250

Outdoor Ltd. 67,500 465,000

Carlton Corp. 90,000 165,000

Total $517,500 $1,061,250

Instructions

Provide the entry to record the year-end adjustment for these investments, assuming SnowCap uses one control account and has adopted the FVNI model.

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