Loreal American Corporation purchased several marketable securities during 2011 At December 31, 2011, the company had the investments in common stock listed below None was held at the last reporting date, December 31, 2010, and all are considered securities available for sale Required 1 Prepare app...

Requirement 1 Net unrealized holding gains and lossesOCI 2500 ...

Loreal-American Corporation purchased several marketable securities during 2011. At December 31, 2011, the company had the investments

Question:

Loreal-American purchased several marketable securities during 2011. At December 31, 2011, the company had the investments in listed below. None was held at the last reporting date, December 31, 2010, and all are considered securities available-for-sale.

Required:
1. Prepare appropriate adjusting entries at December 31, 2011.
2. What amounts would be reported in the income statement at December 31, 2011, as a result of these adjusting entries?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...