Ex. 199
At January 1, 2014, the non-trading securities portfolio held by Howe Corporation consisted of the following investments:
1.2,500 ordinary shares of Nyland purchased for $42 per share.
2.1,500 ordinary shares of Gregg purchased for $60 per share.
At December 31, 2014, the fair values per share were Nyland $36 and Nyland $66.
Instructions
(a)Prepare a schedule showing the cost and fair value of the portfolio at December 31, 2014.
(b)Prepare the adjusting entry to report the portfolio at fair value at December 31, 2014.
Ex. 200
Weaver Company has the following data at December 31, 2014 for its securities.
Securities Cost Fair Value
Trading$90,000$93,000
Non-Trading75,00071,000
Instructions
(a)Prepare the adjusting entries to report the securities at fair value.
(b)Indicate the statement presentation of the related unrealized gain (loss) accounts for each class of securities.