Zippydah Company SE has the following data at December 31, 2017.
Securities Cost Fair Value
Trading..............€120,000..............€124,000
Non-trading..........100,000.................94,000
The non-trading securities are held as a long-term investment. This is the first year of the company's operations.
Instructions
(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.