$($b$)$

Determine the balance in accumulated other comprehensive income on the statement of financial position on each of December

$31,2023,2024,$ and $2025.($Enter negative amount using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$Whispering Winds Corp. gave you the following information about its investment in Fahad Corp. shares purchased in May $2023$ and

accounted for using the FV$-$OCI method:

Cost

Fair value, December $31,2023$

Fair value, December $31,2024$

Fair value, December $31,2025$

$$43,600$

$$48,250$

$$31,000$

$$37,250$

$($a$)$

Your answer is correct.

Prepare the adjusting journal entries needed on December $31,2023,2024,$ and $2025.($Credit account titles are automatically

indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for

the amounts. Record entries in the order displayed in the problem statement. List all debit entries before credit entries.$)$

Date

$31,2023$

$31,2024$

$31,2024$

Account Titles and Explanation

FV$-$OCl Investments

Unrealized Gain or Loss $-$ OCl

Unrealized Gain or Loss $-$ OCl

FV $-$OCl Investments

FV $-$OCl Investments

Unrealized Gain or Loss $-$ OCl

Debit

Credit

ANSWER QUESTION B

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