File Edit View History Bookmarks People Window Help Corel Dr

File Edit View History Bookmarks People Window Help Corel Draw Tips & Tricks Te x Products 1 Positive Inner x Were Closed xDAssignmen O Not Secure ezto.mheducation.com/hm.tpx ent-App. C Question 3 (or 7 value: 3.00 points On December 31,2015, Reggit Company held the following short-term investments in its portfolio of available-for-sale securities. Reggit had no short-term investments in its prior accounting periods. Prepare the December 31, 2015, adjusting entry to report these investments at fair value. (If no entry is required select No journal entry required in the first entry field.) Fair Value Adjustment Computation Available for Sale Portfolio Unrealized Fair Value Amount Verrizano Corporation bonds payable Preble Corporation notes payable Luceme Company common stock Total S 61,90D 56,800 8,400 78,100 199,100 S 183,300 56.200 48.400 81,000 hankful mockup.F...ng

Solution

Fair value Adjustment Computation -Available for sale portfolio Cost FV unrealised amount Verrizano Corporation bonds payable 61,900 56,800 5,100 preble corporation notes payable 56,200 48,400 7,800 Lucerene Company common stock 81,000 78,100 2,900 Total 199,100 183,300 -15,800 loss Adjusting Entry Accounting titles & explanations Debit Credit Unrealised holding gain or loss 15,800 Fair value adjustment 15,800