Bountiful Corporation has the following investment portfolio at December 31,2016:

Required:
a)Explain how each investment should be classified for financial reporting purposes and the accounting method that should be used.
b)Prepare all of the required journal entries using the recommendations you have provided in (a)above.Round all values to nearest dollar.
c)Fill in the following chart:

Question

Bountiful Corporation has the following investment portfolio at December 31,2016:
  
Required:
a)Explain how each investment should be classified for financial reporting purposes and the accounting method that should be used.
b)Prepare all of the required journal entries using the recommendations you have provided in (a)above.Round all values to nearest dollar.
c)Fill in the following chart:

Quizplus · Accepted Answer

The Answer of Bountiful Corporation has the following investment portfolio at December 31,2016:
  
Required:
a)Explain how each investment should be classified for financial reporting purposes and the accounting method that should be used.
b)Prepare all of the required journal entries using the recommendations you have provided in (a)above.Round all values to nearest dollar.
c)Fill in the following chart:

Bountiful Corporation Has the Following Investment Portfolio at December 31,2016