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Valuing Trading Securities at Fair Value On January 1, Valuation Allowance for Trading Investments had a...

Valuing Trading Securities at Fair Value

On January 1, Valuation Allowance for Trading Investments had a zero balance. On December 31, the cost of the trading securities portfolio was $48,800, and the fair value was $49,900.

Prepare the December 31 adjusting journal entry to record the unrealized gain or loss on trading investments.

Dec. 31 Trading Investments
Trading Investments

Valuing Available-for-Sale Securities at Fair Value

On January 1, Valuation Allowance for Available-for-Sale Investments had a zero balance. On December 31, the cost of the available-for-sale securities was $94,500, and the fair value was $97,080.

Prepare the adjusting entry to record the unrealized gain or loss on available-for-sale investments on December 31.

Dec. 31 Unrealized Gain (Loss) on Available-for-Sale Investments
Available-for-Sale Investments
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solution & Dec-31| Valuation allowance for I Trading investments I & 1100 (49900-46800) $ 1100 unrealized Gain on - Trading i

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