Uttinger Company has the following data at December 31, 2024.
| Securities | Cost | Fair-value |
| Trading Available-for-sale | $120,000 100,000 | $126,000 96,000 |
The Available-for-sale securities are held as a long-term investment.
Instructions
- Prepare the adjusting entries to report each class of securities at fair value.
- Indicate the statement presentation of each class of securities and related unrealized gain (loss) accounts.
Solution
