Posted: May 1st, 2021

Uttinger company has the following data at december 31, 2015

E12-12 Uttinger Company has the following data at December 31, 2015.

 

Securities                     Cost Fair          Value

Trading                        $12,000                       $126,000

Available-for-sale        100,000                       96,000

 

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.

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