Question

Refer to the information in RE13-7. Assume that on December 31, 2016, the investment in Smith Corporation bonds has a market value of $12,300 and the investment in Bike Company stock has a market value of $5,500. Prepare the year-end journal entry to record the unrealized gain or loss.
In RE13-7
These securities consisted of (a) Smith Corporation 10%, 5-ycar bonds with a face value of $12,000 which were purchased at par plus four months of accrued interest and (b) 300 shares of Bike Company common stock which were purchased at $20 per share.


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  • CreatedOctober 05, 2015
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