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Prepare the adjusting entries to report each class

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Reference no: EM132055288

Question - Uttinger Company has the following data at December 31, 2015.

Securities

Cost

Fair value

Trading

$120,000

126,000

Available for sale

$100,000

96,000

The available for sale securities are held as a long term investment.

a) Prepare the adjusting entries to report each class of securities at fair value.

b) Indicate the statement presentation of each class of securities and the related unrealized again (loss) accounts.

Reference no: EM132055288

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