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Key Code: Key code here Instructions Answers are entered in the cells with gray backgrounds Cells with non-gray backgrounds are protected and cannot be edited. An asterisk () willappear to the right of an incorrect entry. The essay answer will not be graded. 2016 Dec. 31 a. Valuation Allowance for Trading Investments Unrealized Gain on Trading Investments Fair Value Dec 31, 2016) Cost Arden Enterprises, Inc. French Broad Industries, Inc. Pisgah Construction, Inc. Total Increase (decrease) in fair value of trading investments b. (Key essay answer here)

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a) Valuation Allowance for Trading Investments $ 12,600 Unrealized Gain on Trading Investments $ 12,600 Calculation & Explanation: Market value of investments as on December 31, 2012: B&T Transportation, Inc 3400 $           26 $        88,400 Citrus Foods, Inc 1500 $           19 $        28,500 Stuart Housewares, Inc 800 $           52 $        41,600 MV of investments as on December 31, 2012: $      158,500 Cost of acquisition $      145,900 Unrealized gain $        12,600 b) As there is no change in fair values between the two dates, no Journal entry is required.

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