The following information is available for Coronado Company at December 31, 2025, regarding its investments. Securities Cost Fair Value 3,600 shares of Myers Corporation common stock $43,200 $49,700 1,100 shares of Cole Incorporated preferred stock 24,200 21,100 $67,400 $70,800 Prepare the adjusting entry (if any) for 2025, assuming no balance in the Fair Value Adjustment account at January 1, 2025. Neither of Coronado's investments result in significant influence. Assume the securities as trading securities. (List debit entry before credit entry. 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.) Account Titles and Explanation Debit Credit

The following information is available for Coronado Company at December 31, 2025, regarding its investments. Securities Cost Fair Value 3,600 shares of Myers Corporation common stock $43,200 $49,700 1,100 shares of Cole Incorporated preferred stock 24,200 21,100 $67,400 $70,800 Prepare the adjusting entry (if any) for 2025, assuming no balance in the Fair Value Adjustment account at January 1, 2025. Neither of Coronado's investments result in significant influence. Assume the securities as trading securities. (List debit entry before credit entry. 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.) Account Titles and Explanation Debit Credit

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 12RE: Refer to the information in RE13-11. Assume that on December 31, 2019, the investment in Cornett...

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Refer to the information in RE13-11. Assume that on December 31, 2019, the investment in Cornett Company stock has a market value of 10,500. Prepare the year-end journal entry to record the unrealized gain or loss.
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