On December 21, 2025, Pina Company provided you with the following information regarding its equity investments.Clemson Corp. stockColorado Co.stockeInvestmentsBuffaloes Co.stockTotal of portfolioPrevious fair value adjustment balanceFair value adjustment-Cr.TUDecember 31, 20252025Cost$20,40010,90020,400$51,700Fair Value AdjustmentFair ValueAccount Titles and Explanation$19.300Unrealized Holding Gain or Loss -Income9,80020,990During 2026, Colorado Co. stock was sold for $10,350. The fair value of the stock on December 31, 2026, was Clemson Corp.stock-$19,390, Buffaloes Co. stock-$20,900. None of the equity investments result in significant influence.$50,090Unrealized Gain (Loss)$(1,100)(1,100)590(List oll debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Ifno entry is required, select "No Entry for the account titles and enter O for the amounts.)(1,610)Prepare the adjusting journal entry needed on December 31, 2025.Prepare the journal entry to record the sale of the Colorado Co. stock during 2026.Prepare the adjusting journal entry needed on December 31, 2026.$(1,610)Debit1610Credit16102

Investment -An asset is something that is purchased with the intention of earning revenue or…

On December 21, 2025, Pina Company provided you with the following information regarding its equity inve December 31, 2025 Cost $20,400 10,900 Investments Clemson Corp. stock Colorado Co.stock Buffaloes Co. stock Total of portfolio Previous fair value adjustment balance Fair value adjustment-Cr. 20,400 $51,700 Fair Value $19,300 9,800 20,990 $50,090 Unrealized Gain (Loss) $(1,100) (1,100) 590 (1,610) 0 $(1,610)

On December 21, 2025, Pina Company provided you with the following information regarding its equity inve December 31, 2025 Cost $20,400 10,900 Investments Clemson Corp. stock Colorado Co.stock Buffaloes Co. stock Total of portfolio Previous fair value adjustment balance Fair value adjustment-Cr. 20,400 $51,700 Fair Value $19,300 9,800 20,990 $50,090 Unrealized Gain (Loss) $(1,100) (1,100) 590 (1,610) 0 $(1,610)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 21E: Adjusting the Allowance to Adjust Trading Securities to Market Caesar Corporation has the following...

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See the attached image for information:a. How much is the balance of the Share Capital – Ordinary as of December 31, 2021? (Provide solution)b. How much is the balance of the Share Premium – Ordinary as of December 31, 2021? (Provide solution)c. How much is the balance of the Share Capital – Preference as of December 31, 2021? (Provide solution)
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INVESTMENT PORTFOLIO General Corporation has the following investments in equity securities at December 31, 2002 (there are no existing balances in the market adjustment account): Percentage of Shares Owned Market Price at 12/31/02 Company Classification Shares Cost Clarke Corporation Trading Available-for-sale 1,000 2% S75 S78 Marlin Company 4,000 15 34 32 Air Products, Inc. Available-for-sale 3,000 10 46 43 Required: 1. Prepare any adjusting entries required at December 31, 2002. 2. Illustrate how these investments would be presented on General Corporation's balance sheet at December 31, 2002. The available-for-sale securities are expected to be held for two to five years. 3. Prepare the journal entry on April 10, 2003, when General Corporation sold the Clarke Corporation investment for $72 per share. 4. Assume that General Corporation still owns its investment in Marlin Company and Air Products at December 31, 2003; the market prices on that date are $37 for Marlin and $44 for Air…