At January 1, 2005, the available for sale securities portfolio held by Howe Corporation consisted of the following investments 1 2,500 shares of Nester common stock purchased for $42 per share 2 1,500 shares of Long common stock purchased for $60 per share At December 31, 2005, the market values p...

a Security Cost Fair Value Nester 105000 ...

At January 1, 2005, the available-for-sale securities portfolio held by Howe Corporation consisted of the following investments:

Question:

At January 1, 2005, the available-for-sale securities held by Howe consisted of the following investments:
1. 2,500 shares of Nester purchased for $42 per share.
2. 1,500 shares of Long purchased for $60 per share.
At December 31, 2005, the market values per share were Nester $36 and Long $64.
Instructions
(a) Prepare a schedule showing the cost and fair value of the at December 31, 2005.
(b) Prepare the adjusting entry to report the at fair value at December 31, 2005.
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... 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...