Question
Uttinger Company has the following data at December 31, 2015. The available-for-sale securities are held as a long-term investment. Security Cost Fair Value Trading $120,000
Uttinger Company has the following data at December 31, 2015. The available-for-sale securities are held as a long-term investment.
| Security | Cost | Fair Value |
| Trading | $120,000 | $126,000 |
| Available-for-sale | 100,000 | 96,000 |
A. Prepare the adjusting entries to report each class of securities at fair value.
B. Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts.
| (a) | Page 633 | |||||
| Date | Account Titles | Debit | Credit | |||
| (b) | ||||||
| Balance Sheet | ||||||
| Income Statement | ||||||
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Managerial Accounting Tools For Business Decision Making Wileyplus Lms Student Package
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th Edition
