At January 1, 2017, the equity securities portfolio held by Darma Corporation consisted of the following investments:
1. 2,500 shares of H2 common stock purchased for $43 per share.
2. 1,500 shares of Krypto common stock purchased for $50 per share.
At December 31, 2017, the fair values per share were H2 $36 and Krypto $54.
Instructions
(a) Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2017.
(b) Prepare the adjusting entry to report the portfolio at fair value at December 31, 2017.

Question

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The Answer of At January 1, 2017, the equity securities portfolio held by Darma Corporation consisted of the following investments:
1. 2,500 shares of H2 common stock purchased for $43 per share.
2. 1,500 shares of Krypto common stock purchased for $50 per share.
At December 31, 2017, the fair values per share were H2 $36 and Krypto $54.
Instructions
(a) Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2017.
(b) Prepare the adjusting entry to report the portfolio at fair value at December 31, 2017.

At January 1, 2017, the Equity Securities Portfolio Held by Darma