On December 31, 2020, the trading securities for Paul Company are as follows: Security Cost Fair Value AXZ $116,000 $120,000 BKY 134,000 132,000 $250,000 $252,000 Prepare the adjusting entry on December 31, 2020, to report the securities at fair value.
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- At December 31, 2022, available-for-sale debt securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment. Security. Cost. Fair Value A $17,500 16,000 B 12,500 14,000 C 23,000 21,000 53,000 51,000 A. Prepare the adjusting entry at December 31, 2022 to report the securities at fair value. B- Show the statement presentation at December 31,2022, after adjustment to fair value. C- E. Kretsinger, a member of the board of directors, does not understand the reporting of the unreal- ized gains or losses. Write a letter to Ms. Kretsinger explaining the reporting and the purposes that it serves.At December 31, 2027, the trading debt securities for Sheridan, Inc. are as follows. Security Cost Fair Value A $17,800 $16,300 B 12,000 13,600 C 22,900 19,400 $52,700 $49,300 (a)At December 31, 2022, available-for-sale debt securities for Pharoah, Inc. are as follows. The securities are considered to be a long-term investment. Security (a) A B C Total Cost $16,985 12,930 21,760 $51,675 Fair Value $16.030 15,179 18,160 $49,369 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (Credit account titles are automatically indented when the 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 Dec. 31 Debit Credit
- Based on the information below, I have to prepare the adjusting entry at December 31, 2022 to report the securities at fair value. Thank you in advance!At December 31, 2027, available-for-sale debt securities for Sunland, Inc. are as follows. The securities are considered to be a long- term investment. Security Cost Fair Value A $17,200 $16,500 B 12,000 13,700 C 23,500 19,000 $52,700 $49,200 (a) Prepare the adjusting entry at December 31, 2027, to report the securities at fair value. (List all debit entries before credit entries. 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 Debit Credit Dec. 31At December 31, 2020, the available-for-sale debt securities for Larkspur, Inc. are as follows. Security Cost Fair Value X $28,600 $24,960 Y 13,000 13,520 23,920 18,720 $65,520 $57,200 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.) Date Account Titles and Explanation Dec. 31 N
- Based on the numbers attatched, I need to show the balance sheet presentation at Deceber 31, 2022 after adjustment to fair value.At December 31, 2020, the cost and fair value trading securities for Crane, Inc. are as follows. Security Cost Fair Value A $18,800 $17,800 B 13,100 14,800 C 22,400 19,700 $54,300 $52,300 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the 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. List debit entry before credit entry.)At December 31, 2022, the trading debt securities for Sheridan, Inc. are as follows. Security A (a) B C Cost $17,800 12,000 Dec. 31 22,900 $52,700 Fair Value $16,300 13,600 19,400 $49,300 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (List all debit entries before credit er Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No- for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
- At December 31, 2021, Blossom Company has an equity portfolio valued at $121000. Its cost was $106000. If the Securities Fair Value Adjustment has a debit balance of $6700, which of the following journal entries is required at December 31, 2021?At December 31, 2020, the trading securities for Crane, Inc. are as follows. Security Cost Fair Value A $17,500 $16,100 B 12,600 13,900 C 23,100 19,100 $53,200 $49,100 (a) 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31At December 31, 2021, the trading debt securities for Carla Vista, Inc. are as follows: Fair Value Debt Security Cost 12/31/21 X-tra $110000 $114000 Yeti 167000 164000 Zeta 50000 48000 Carla Vista should report the following amount related to the securities transactions in its 2021 income statement O $1000 realized loss. O $1000 unrealized loss. O $4000 gain. ○ $5000 unrealized loss.