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The following is available for Upland Company at December 31, 2014, regarding investments: December 31, 2014 Fair Cost Value Cat Corp. $260,000 $200,000 Lyme 1,

The following is available for Upland Company at December 31, 2014, regarding

investments:

December 31, 2014

Fair

Cost Value

Cat Corp. $260,000 $200,000

Lyme 1, Inc. 245,000 265,000

$505,000 $465,000

REQUIRED:

(a) The adjusting entry (if any) for 2014 if the securities are classified as trading.

Dr. Cr.

(b) The adjusting entry (if any) for 2014 if the securities are classified as available-for-sale.

Dr. Cr.

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