Carpark Services began operations in 2001 and maintains investments in available-for-sale debt securities. The year-end cost and fair values for itsportfolio of these debt securities follows.Available-for-Sale SecuritiesDecember 31, 20x1December 31, 20x2Cost$ 250,000$ 340,000Fair Value$ 251,000$ 350,000The year-end adjusting entry to record the unrealized gain/loss at December 31, 20X1 is:Debit Unvealed Gain-Equity $1000; Credit Fair Value Adjustment-Available for Sale $1.000Debit Uzed Loss-Equity $1,000, Credit Fair Value Adjustment-Available-for-Sale $1.000Detit Realized Loss-Income $1,000: Creat Fair Value Adjustment-Available for Sale $1,000Debat Far Value Adjustment-Available for Sale $1.000 Credit Unrealized Loss-Equity $1,000

Carpark Services began operations in 20X1 and maintains investments in available-for-sale debt securities. The year-end cost and fair values for its portfolio of these debt securities follows. Available-for-Sale Securities December 31, 20x1 December 31, 20x2 Cost $ 250,000 Fair Value $ 251,000 $ 340,000 $ 350,000 The year-end adjusting entry to record the unrealized gain/loss at December 31, 2011 is

Carpark Services began operations in 20X1 and maintains investments in available-for-sale debt securities. The year-end cost and fair values for its portfolio of these debt securities follows. Available-for-Sale Securities December 31, 20x1 December 31, 20x2 Cost $ 250,000 Fair Value $ 251,000 $ 340,000 $ 350,000 The year-end adjusting entry to record the unrealized gain/loss at December 31, 2011 is

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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