Question

5. Refer to the information in RE13-3. Assume that on December 31, 2016, the investment in Todd Corporation bonds has a market value of $22,300, and the investment in Cornett Company stock has a market value of $10,500. Prepare the year-end journal entry to record the unrealized gain or loss.
In RE13-3
These securities consisted of (a) Todd Corporation 10%, 5-ycar bonds with a face value of $20,000 which were purchased for $18,500 and (b) 300 shares of Cornett Company common stock which were purchased at $40 per share


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  • CreatedOctober 05, 2015
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