On January 1, 2010, Valuation Allowance for Trading Investments has a credit balance of $8,700 On December 31, 2010, the cost of the trading securities portfolio was $52,400 and the fair value was $53,000 Prepare the December 31, 2010, adjusting journal entry to record the unrealized gain or loss o...

Date Particulars Valuation Allowance for Trading securities Unrealized gain on tradin ...

On January 1, 2010, Valuation Allowance for Trading Investments has a credit balance of $8,700. On December

Question:

On January 1, 2010, Valuation Allowance for Trading Investments has a credit balance of $8,700. On December 31, 2010, the cost of the trading securities was $52,400 and the fair value was $53,000. Prepare the December 31, 2010, adjusting journal entry to record the unrealized gain or loss on trading investments.

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...