Question: On January 1, 2012, Valuation Allowance for Available-for-Sale Securities has a zero balance. On December 31, 2012, the cost of the available-for-sale securities was $62,

On January 1, 2012, Valuation Allowance for Available-for-Sale Securities has a zero balance. On December 31, 2012, the cost of the available-for-sale securities was $62, 400, and the fair value was $56,900. Prepare the adjusting entry to record the unrealized gain or loss for available-for-sale Securities on December 31, 2012.

Step by Step Solution

★★★★★

3.48 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

2012 Dec 31 Unrealized Gain Loss on AvailableforSale Investments 5500 Valuat... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

52-B-A-I (202).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

The cost of a 68 m2 falling-film evaporator was 1.52 times the cost of the 30 m2 unit. What exponent value in the cost-capacity equation yielded these results?

On January 1, 2016, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2016, the cost of the available-for-sale securities was $72,700, and the fair value was...

6 Year 3% 5% .837 1.746 8 10 Table of Present Value Factors 12 15 20 Interest Rate .744 7% 8% 666 .630 9% .789 .677 582 .540 .502 .614 508 463 .701 557 444 .642 481 1362 .554 .377 1.258 596 .215 422...

On January 1, 2016, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2016, the cost of the available-for-sale securities was $85,100, and the fair value was...

On January 1, 2016, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2016, the cost of the available-for-sale securities was $78,400, and the fair value was...

On January 1, 2045, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2045, the cost of the available-for-sale securities was $84,200, and the fair value was...

On January 1, 20Y7, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 20Y7, the cost of the available-for-sale securities was $19,040, and the fair value was...

Santana Rey created Business Solutions on October 1, 2021. Thecompany has been successful, and its list of customers has grown.To accommodate the growth, the accounting system is modified to setup 0...

On January 1, 2014, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2014, the cost of the available-for-sale securities was $78,400, and the fair value was...

On January 1, 2014, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, 2014, the cost of the available-for-sale securities was $24,260, and the fair value was...

The total cost of repaying a student loan at an interest rate of r % per year is C = f(r). (a) What is the meaning of the derivative f'(r)? What are its units? (b) What does the statement f'(10) =...

A hollow conducting hemisphere of radius a is buried with its flat face lying flush with the earth surface thereby serving as an earthing electrode. If the conductivity of earth is a, show that the...

12.99 For a one-sided hypothesis test for a proportion in which the alternative hypothesis is Ha: p , p0, for what values of the test statistic z will the p-value be greater than .5? Explain your...

(-1, 1,1)" and 6. b = (1, 1)", b2 = (2, 1)". Let L be the linear transformation defined by L(x) = (2r2, -11)". Find the matrix representing L with respect to the ordered bases E and F. Let E = %3D...

5. Is the following mapping L linear? L:R* + R', where L(r1, 2, 13, T4) = (0,0, r4, r3). %3D If yes, determine kernel and image of L.

4. Determine whether the following 2 x 2 matrices are linearly independent in R?x2: A - ( :) 6). A1 = A2 -1 Az %3D (; :)- What is the dimension of R2x2? What is the dimension of Span(A1, A2, A3)?

Which one of the following statements is the most accurate? a) For a fixed interest rate, a rise in the expected future exchange rate does not cause a change in the current exchange rate. b) For a...

Calculate the inverse of the matrix 0. A = -2 -2 3 3 -2 -3 Use the Rank-Nullity Theorem, to evaluate the rank of A from Exercise 2. 3.

Outline a sequence of reactions that would bring about the conversion of aniline into each of the following compounds. (a) Benzylamine (b) Benzyl alcohol (c) 2-phenylethanamine (d)...

Which of the following graphs illustrates how unit variable costs behave with changes in total unitsproduced? (b) (a) Total Units Produced Total Units Produced Unit Cost Unit Cost

Which of the following graphs best illustrates fixed costs per unit as the activity basechanges? (a) (b) Activity Base Activity Base Costs per Unit ro Costs per Unit

If the unit cost of direct materials is decreased, what effect will this change have on the break-even point?

You have $2,158 today in your savings account. How long must you wait for your savings to be worth $4,000 if you are earning 2.1 percent interest, compounded annually? 26.68 years 29.69 years 32.13...

Job WR53 at NW Fab, Inc. required $200 of direct materials and 10 direct labor hours at $15 per hour. Estimated total overhead for the year was $760,000 and estimated direct labor hours were 20,000....

S13-10 Returns and Standard Deviations [LO1] Consider the following information: a. Your portfolio is invested 30 percent each in A and C, and 40 percent in B. What is the expected return of the...