Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 17

A Valuing trading securities at fair value
On January 1, 2016, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2016, the cost of the trading securities portfolio was $385,000, and the fair value was $357,400. Prepare the December 31, 2016, adjusting journal entry to record the unrealized gain or loss on trading investments.
B Valuing trading securities at fair value
On January 1, 2016, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2016, the cost of the trading securities portfolio was $41,500, and the fair value was $46,300. Prepare the December 31, 2016, adjusting journal entry to record the unrealized gain or loss on trading investments.