Question: Cleveland Company has a non trading equity investment portfolio
Cleveland Company has a non-trading equity investment portfolio valued at $4,000. Its cost was $3,300. If the Securities Fair Value Adjustment account has a debit balance of $200, prepare the journal entry at year-end.
Answer to relevant QuestionsHillsborough Co. has a held-for-collection investment in the bonds of Schuyler Corp. with a carrying (and fair) value of $70,000. Hillsborough determined that due to poor economic prospects for Schuyler, Hillsborough will ...Presented below is selected information related to the financial instruments of Dawson Company at December 31, 2010. This is Dawson Company’s first year of operations.Instructions(a) Dawson elects to use the fair value ...Cairo Corporation has government bonds classified as held-for-collection at December 31, 2010. These bonds have a par value of $800,000, an amortized cost of $800,000, and a fair value of $740,000. In evaluating the bonds, ...On January 1, 2010, Acker Inc. had the following statement of financial position.The accumulated other comprehensive income related to unrealized holding gains on non-trading equity investments. The fair value of Acker ...On July 1, 2010, Selig Company purchased for cash 40% of the outstanding ordinary shares of Spoor Corporation. Both Selig and Spoor have a December 31 year-end. Spoor Corporation, whose shares are actively traded on the ...
Post your question