Question: Redfield Company has these data at December 31, 2012: The available-for-sale securities are held as a long-term investment.Instructions(a) Prepare the adjusting entries to report each

Redfield Company has these data at December 31, 2012:

The available-for-sale securities are held as a long-term investment.Instructions(a) Prepare the adjusting entries to report each class of securities at fair value.(b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss)accounts.

Securities Cost Fair Value Trading Available-for-sale $110,000 100,000 $122,000 96,000

Step by Step Solution

★★★★★

3.32 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Market Adjustment x Trading 122000 110000 12000 ... 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)

48-B-A-I (132).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Table 2. Distribution of mortality among stroke patients in a cohort study after one year of follow-up # stroke cases at # deaths at follow up time 1 Age

Swisher Company has these data at December 31, 2014: The available-for-sale securities are held as a long-term investment. Instructions (a) Prepare the adjusting entries to report each class of...

As a long-term investment, Painters' Equipment Company purchased 40% of AMC Supplies Inc.'s 320,000 shares for $512,000 at the beginning of the fiscal year of both companies. On the purchase date,...

Zippydah Company has the following data at December 31, 2012. The available-for-sale securities are held as a long-term investment.Instructions(a) Prepare the adjusting entries to report each class...

McGee Company has the following data at December 31, 2010. The available-for-sale securities are held as a long-term investment.Instructions(a) Prepare the adjusting entries to report each class of...

Uttinger Company has the following data at December 31, 2014. The available-for-sale securities are held as a long-term investment. Prepare the adjusting entries to report: (1) Trading securities at...

please find answers Uttinger Company has the following data at December 31, 2015. The available-for-sale securities are held as a long-term investment. Prepare the adjusting entries to report: (1)...

Kanjo Companj has the following data at December 31. 2006. I he available-for-sale securities are held as a long-term investment. Instructions (a) Prepare the adjusting entries to report each class...

Uttinger Company has the following data at December 31, 2014. The available-for-sale securities are held as a long-term investment. Instructions (a) Prepare the adjusting entries to report each class...

Uttinger Company has the following data at December 31, 2015. The available-for-sale securities are held as a long-term investment. A. Prepare the adjusting entries to report each class of securities...

A charter bus company is advertising a singles outing on a bus that holds 60 passengers. The company has found that, on average, 10% of ticket holders do not show up for such trips; hence, the...

Pierce Company reported net income of $250,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of the current assets and current...

4 Multiple Choice 2 points 5 A bond's annual interest divided by its face value is referred to as the: 6 7 8 9 current yield. market rate. call rate. yield to maturity. coupon rate.

The answer given is P14, 507.02 (Show the solution) In order to save for her high school graduation, Marie decided to save P200 at the end of each month. If the bank pays 0.250% compounded monthly,...

Which is correct 2-If A, B, and C are square matrices then B (A + C) is equal 3. If A is a matrix of rank (4, 2) (2 number of rows) and rank B matrix (3, 2) then rank A - B -3 N. o 1e Q 1 z e Z 2

1. If the distinguished root of the quadratic equation is zero, then the equation of two complex roots have two real roots yen one real root one complex root 3. If f is a constant coupling and the...

The figure shows a system of masses. The mass of 2m is connected to an immobile wall with a spring of constant 2k, while the mass of m is connected to an immobile wall with a spring of constant k....

3. What are the main components of attitudes? Are these components related or unrelated? n

1.Explain briefly or write short notes on Cost of conformance

Florida Beach Company manufactures sunscreen, called NoTan, in 11-ounce plastic bottles. NoTan is sold in a competitive market. As a result, management is very cost-conscious. NoTan is manufactured...

Health 'R Us, Inc., uses a traditional product costing system to assign overhead costs uniformly to all its packaged multigrain products. To meet Food and Drug Administration requirements and to...

use goal seek to find the new price per box (cell K8) to reach a new daily average sales goal of $3,000 in cell K7. accept the solution found by goal seek Use Goal Seek to find the new price per box...

A portfolio that combines the risk-free asset and the market portfolio has an expected return of 7.2 percent and a standard deviation of 10.2 percent. The risk-free rate is 4.2 percent, and the...

Please answer a-e A decade-old study found that the proportion, p, of high school seniors who believed that "getting rich" was an important personal goal was 80%. A researcher decides to test whether...