Weaver Company has the following data at December 31, 2014 for its securities.
Securities Cost Fair Value
Trading $90,000 $93,000
Non-Trading 75,000 71,000
Instructions
(a) Prepare the adjusting entries to report the securities at fair value.
(b) Indicate the statement presentation of the related unrealized gain (loss) accounts for each class of securities.
Correct Answer:
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(b) Unrealized Gain-Income: I...View Answer
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