Use the following information for the next three questions. Below you will find information about the investment portfolio of common stocks held by Amber Co. Amber uses FVNI accounting for the investments. 12/31/2020 Stock Alpha Beta Gamma Total Shares 50 40 30 1/1/2020 a. b. 200 c 10 c C. Cost per share d. 110 c e. 200 dr $5.00 8.00 4.00 Total cost 250 320 120 $690 Total fair value 7. On 12/31/2021, the balance of the Fair Value Adjustment account is 30 $175 215 90 $480 Total cost 8. For 2021, the unrealized gain (loss) reported in 2021 income is a (10) b. (200) C. 10 d. (110) e. None of the above 250 320 n/a $570 6. The Gamma shares were sold for a combined total of $105 in 2021. The realized gain (loss) on the sale was a. (30) b. 15 c. 30 d. (15) e. None of the above 12/31/2021 Total fair value 180 190 $370

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please show calculation and explanation for all 3 parts!!!!

but dont give handritten answer thank you

Use the following information for the next three questions. Below you will find information about the investment
portfolio of common stocks held by Amber Co. Amber uses FVNI accounting for the investments.
Stock
Alpha
Beta
Gamma
Total
1/1/2020
Shares
50
40
30
Cost per
share
a
b.
$5.00
8.00
4.00
d. (15)
e. None of the above
12/31/2020
Total
cost
250
320
120
$690
C.
d. (110)
e. None of the above
Total fair
value
$175
215
90
$480
7. On 12/31/2021, the balance of the Fair Value Adjustment account is
a. 30
b. 200 CE
10 ct
d. 110 gr
e. 200 dr
8. For 2021, the unrealized gain (loss) reported in 2021 income is
(10)
(200)
10
Total
cost
250
320
na
$570
6. The Gamma shares were sold for a combined total of $105 in 2021. The realized gain (loss) on the sale was
a. (30)
b. 15
c. 30
12/31/2021
Total fair
value
180
190
na
$370
Transcribed Image Text:Use the following information for the next three questions. Below you will find information about the investment portfolio of common stocks held by Amber Co. Amber uses FVNI accounting for the investments. Stock Alpha Beta Gamma Total 1/1/2020 Shares 50 40 30 Cost per share a b. $5.00 8.00 4.00 d. (15) e. None of the above 12/31/2020 Total cost 250 320 120 $690 C. d. (110) e. None of the above Total fair value $175 215 90 $480 7. On 12/31/2021, the balance of the Fair Value Adjustment account is a. 30 b. 200 CE 10 ct d. 110 gr e. 200 dr 8. For 2021, the unrealized gain (loss) reported in 2021 income is (10) (200) 10 Total cost 250 320 na $570 6. The Gamma shares were sold for a combined total of $105 in 2021. The realized gain (loss) on the sale was a. (30) b. 15 c. 30 12/31/2021 Total fair value 180 190 na $370
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