At December 31, 2015, the available-for-sale securities for Storrer, Inc. are as

Question

At December 31, 2015, the available-for-sale securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment. Prepare the adjusting entry at December 31, 2015, to report the securities at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Show the statement presentation at December 31, 2015, after adjustment to fair value.

Explanation / Answer

Adjustment entries for revaluation

A. Revaluation A/c Dr. 1100

To Investment in A 1100

B. Investment in B a/c Dr. 2000

To Revaluation A/c 2000

C. Revaluation a/c Dr. 3800

To Investment in C 3800

Statement presentation at 31 December 2015

Investment in securities:

Security A 16100

Security B 14300

Security C 18800

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.