On its December 31, 2014 balance sheet, Calhoun Company appropriately reported a $10,000 debit balance in its

Question:

On its December 31, 2014 Calhoun Company appropriately reported a $10,000 debit balance in its Fair Value Adjustment (available-for-sale) account. There was no change during 2015 in the composition of Calhoun's of equity investments held as available-for-sale securities. The following information pertains to that

1. Prepare the adjusting entry at 12/31/15.
2. Show the Asset section of Investments - Available-for-Sale at 12/31/15.
3. If Calhoun Company had Common Stock of $300,000 and Retained Earnings of $160,000, show the Equity section of the Balance Sheet at 12/31/15.

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... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... 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...