Nantahla, Inc., purchased the following available-for-sale securities during 2009, its first year of operations: The market price

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Nantahla, Inc., purchased the following available-for-sale securities during 2009, its first year of operations:

Name Number of Shares Cost Barns Electronics, Inc. Ryan Co. Sharon Co. Total 1,500 400 2,200 $ 42,500 28,200 66,100 $136

The market price per share for the available-for-sale security portfolio on December 31, 2009, and December 31, 2010 was as follows:

Nantahla, Inc., purchased the following available-for-sale secur

a. Provide the journal entry to adjust the available-for-sale security portfolio to fair value on:
1. December 31, 2009
2. December 31, 2010
b. Describe the income statement impact from the December 31, 2010, journalentry.

Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...

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a 1 2009 Dec 31 Valuation Allowance for AvailableforSale Investments 4300 Unrealized Gain Loss on Av...View the full answer

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Question Posted: Dec 11, 2011 05:12 AM

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Nantahla, Inc., purchased the following available-for-sale securities during 2009, its first year of operations: The market price

Question:

Name Number of Shares Cost Barns Electronics, Inc. Ryan Co. Sharon Co. Total 1,500 400 2,200 $ 42,500 28,200 66,100 $136,800

Step by Step Answer:

a 1 2009 Dec 31 Valuation Allowance for AvailableforSale Investments 4300 Unrealized Gain Loss on Av...View the full answer

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