E16-12

the reporting a the P Prepare adjusting entnes for fair valne, and indicate statement presentatiom for two classes of securities E16-12 Uttinger Company has the following data at December 31, 2017, Fair Value Securities Trading Available-for-sale Cost $120,000 100,000 $126,000 96,000 e 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 gain (loss) accounts EXERCISES: SET B AND CHALLENGE EXERCISES Visit the book's companion website, al www.wilev.comlcollege/wevgandt, and ch