Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. carpark services began operations in 20x1 and main

Carpark Services began operations in 20X1 and maintains long-term investments in available-for-sale debt securities. The...

60.1K

Verified Solution

Question

Accounting

image
Carpark Services began operations in 20X1 and maintains long-term investments in available-for-sale debt securities. The year end cost and fair values for its portfolio of these debt securities follows. The year-end adjusting entry to record the unrealized gain/loss at December 31, 20x1is Available-for-Sale Securities Cost Fair value December 31, 20x1 $330,000 $322,500 December 31, 20x2 $404,000 $413,500 Multiple Choice Debit Fair Value Adjustment - Available for Sale (LT) 57.500. Credit Unrealized Loss - Equity 57.500 Debit Unrealized Gain-Equity $7,500 Credit Fair Value Adjustment - Available for Sale (LT) $7.500

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

5 3x x 6

Calculus
1.2K views

Define the points P 5 1 Q 22 R 2 2 S 5 4 T...

Advance Math
1.2K views

Discribe in 300. words systems like RSA; authentication in public-key systems uses digital signature it...

Geometry
1.2K views

Georgia Department of Education Georgia Standards of Excellence Framework GSE Geometry Unit 4 Part 2...

Basic Math
1.2K views

1 Suppose during our 25 year mortgage from the previous Investigation exercises that a lump...

Basic Math
1.2K views

1 0 sin 30 sin 45 0 1 sin 60 a x 0 1 P...

Calculus
1.2K views

A deposit of 100 is made at the beginning of each month in an account...

Accounting
1.2K views

(b)15 Should Pharoah Ranch buy the finials? , Pharoah Ranch should the...

Accounting
1.2K views

please help thank you Lavage Rapide is a Canadian company...

Accounting
1.2K views

using intermediate accounting, compute the present value of 7960 to be received at the end...

Finance
1.2K views

Find the future value of this loan. $24,212 at 8.9% for 6 months The future...

Finance
1.2K views

Ciclista Inc., a bicycle manufacturer, is preparing its financial statements for December 31, 2020. The...