Academic Integrity: tutoring, explanations, and feedback — we don’t complete graded work or submit on a student’s behalf.

On January 1,2016 Valuation Allowance for available for sale investments had a z

ID: 2533442 • Letter: O

Question

On January 1,2016 Valuation Allowance for available for sale investments had a zero balance. On December 31,2016 the cost of the available for sale securities was $78,400 and the fair value was $72,330. Prepare the adjusted entry to record the unrealized gain or loss on available for sale investments on December 31,2016 be sure to add dates On January 1,2016 Valuation Allowance for available for sale investments had a zero balance. On December 31,2016 the cost of the available for sale securities was $78,400 and the fair value was $72,330. Prepare the adjusted entry to record the unrealized gain or loss on available for sale investments on December 31,2016 be sure to add dates Prepare the adjusted entry to record the unrealized gain or loss on available for sale investments on December 31,2016 be sure to add dates

Explanation / Answer

31-Dec Allowance for available for sale investments ($78,400-$72,330) $ 6,070 Available for sale securities $ 6,070 (To record unrealized gain)

Related Questions

On January 1, the first day of its fiscal year, Pretender Company issued $18,400
Question #2553453
On January 1, the first day of its fiscal year, Pretender Company issued $18,500
Question #2437337
On January 1, the first day of its fiscal year, Pretender Company issued $18,500
Question #2518600
On January 1, the first day of its fiscal year, Pretender Company issued $25,100
Question #2482218
On January 1, the first day of the fiscal year, Designer Fabric Inc. issues a $1
Question #2566700
On January 1, the first day of the fiscal year, a company issues a $1,200,000, 9
Question #2491212
On January 1, the first day of the fiscal year, a company issues a $1,550,000, 1
Question #2572839
On January 1, the first day of the fiscal year, a company issues a $2,000,000, 5
Question #2332911
Hire Me For All Your Tutoring Needs
Integrity-first tutoring: clear explanations, guidance, and feedback.
Drop an Email at
drjack9650@gmail.com
Chat Now And Get Quote

Navigate

Previous
On January 1,2015, Methodical Manufacturing issued 100 bonds, each with a face v
Next
On January 1,2016, McKeown, Inc., issued $250,000 of 8%, 9year bonds for $220,77

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