U For Corporation purchases equity securities costing $163,480 and classifies them as available for sale securities At December 31, the fair value of the portfolio is $167,500 Instructions Prepare the adjusting entry to report the securities properly and indicate the statement presentation of the a...

The unrealized gains and losses resulting from changes in the fair value ...

U-For Corporation purchases equity securities costing $163,480 and classifies them as available-for-sale securities. At December 31, the

Question:

U-For purchases equity securities costing $163,480 and classifies them as available-for-sale securities. At December 31, the fair value of the is $167,500.

Instructions
Prepare the adjusting entry to report the securities properly and indicate the statement presentation of the accounts in your entry.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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...