Question value 1000 points For several years Fister Links Pr

Question value 10.00 points For several years Fister Links Products has held shares of Microsoft common stock, considered by the company to be secunties available for-sale. The shares were acquired at a cost of $600,000. Their fair value last year was $730,000 and is $795,000 this year At what amount will the investment be reported in this year\'s balance sheet? What adjusting entry is repred to accomplish this objective no entry is required for a transactionlevent, select \"No journal entry required\" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry to report the correct amount on this years balance sheet. Note: Enter debits before credits Event Debit Credit

Solution

Answer:

Fair Value adjustment a/c              Dr.      65000

           To Net unrealized holding gains and losses- OCI 65000