Show the statement of financial position presentation at December 31, 2020, after adjustment to fair value.Current AssetsSOriole AGStatement of Financial Position (Partial)For the Year Ended December 31, 2020Current AssetsCurrent LiabilitiesIntangible AssetsInvestmentsInvestments in Shares of Less Than 20% Owned Companies, at Fair ValueLong-term LiabilitiesProperty, Plant and EquipmentEquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesSaveTotal Liabilities and Stockholders' EquitysubrTotal Long-term InvestmentsUsin Total Long-term Liabilities10% Total Property, Plant and EquipmentTotal EquityAccumulated Other Comprehensive LossCHFCHF At December 31, 2020, the end of its first year of operations, the non-trading securities for Oriole AG are as follows. They have thesame cost and fair value. The securities are considered to be a long-term investment.SecurityABCDateCostCHF17,800Dec. 3112,90022,700CHF53,400Fair ValueCHF15,80014,50018,600Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automaticallyIndented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for theamounts.)CHF48,900Account Titles and ExplanationUnrealized Gain or Loss-EquityFair Value Adjustment-Non-TradingDebitCredit

A business is documented in the accounting records of the company using a journal entry. The general…

At December 31, 2020, the end of its first year of operations, the non-trading securities for Oriole AG are as follows. They have the same cost and fair value. The securities are considered to be a long-term investment. Security A B C Cost CHF17,800 Dec. 31 12,900 22,700 CHF53,400 Fair Value CHF15,800 14,500 18,600 CHF48,900 Prepare the adjusting entry at December 31, 2020, 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 O for the amounts) Date Account Titles and Explanation Unrealized Gain or Loss-Equity Fair Value Adjustment-Non-Trading Debit Credit

At December 31, 2020, the end of its first year of operations, the non-trading securities for Oriole AG are as follows. They have the same cost and fair value. The securities are considered to be a long-term investment. Security A B C Cost CHF17,800 Dec. 31 12,900 22,700 CHF53,400 Fair Value CHF15,800 14,500 18,600 CHF48,900 Prepare the adjusting entry at December 31, 2020, 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 O for the amounts) Date Account Titles and Explanation Unrealized Gain or Loss-Equity Fair Value Adjustment-Non-Trading Debit Credit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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