At December 31, 2020, the available-for-sale debt portfolio for Whispering, Inc. is as follows. Security   Cost   Fair Value   Unrealized Gain (Loss) A   $ 27,125   $ 23,250   $( 3,875 ) B   19,375   21,700   2,325   C   35,650   39,525   3,875   Total   $ 82,150   $ 84,475   2,325   Previous fair value adjustment balance—Dr.   620   Fair value adjustment—Dr.   $ 1,705   On January 20, 2021, Whispering, Inc. sold security A for $ 23,405. The sale proceeds are net of brokerage fees. (a)     Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value. (Credit account titles are automatically indented when 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.)

(Available-for-Sale Debt Securities Entries and Financial Statement Presentation) At December 31, 2017, the available-for-sale debt portfolio for Steffi Graf, Inc. is as follows. Check below image for portfolio: On January 20, 2018, Steffi Graf, Inc. sold security A for $15,100. The sale proceeds are net of brokerage fees.Instructions(a) Prepare the adjusting entry at December 31, 2017, to report the portfolio at fair value.(b) Show the balance sheet presentation of the investment-related accounts at December 31, 2017. (Ignore notes presentation.)(c) Prepare the journal entry for the 2018 sale of security A.

At December 31, 2020, the available-for-sale debt securities for Larkspur, Inc. are as follows. Security Cost Fair Value X $28,600 $24,960 Y 13,000 13,520 23,920 18,720 $65,520 $57,200 (a) Prepare the adjusting entry at December 31, 2020, to report the securities at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.) Date Account Titles and Explanation Dec. 31 N

Blake Hudnall is Conosis Incorporated's payroll accountant. During a casual conversation with coworkers, Blake learns that Teagan Vinkovic, a coworker, is deliberately overstating the number of hours worked during each pay period because of a personal economic situation.   Required:   Which ethical guidelines pertain to this situation? What should Blake do with this knowledge?   Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.   Encourage the employee to continue taking care of family needs as they have been   Professional competence and due care in the proper preparation of the payroll and verify externally with the supervisor or manager the actual hours worked   ? Professionalism to the company and ensuring that there is honest and true…

Please help with problem. At the beginning of 2019, Ace Company had the following portfolio of investments in available-for-sale debt securities (all of which were acquired at par value): Security Cost 1/1/19 Fair Value A $25,000 $31,000 B 38,000 36,000 Totals $63,000 $67,000         During 2019, the following transactions occurred: Transactions: May 3 Purchased C debt securities at their par value for $50,000. July 1 Sold all of the A securities for $31,000 plus interest of $1,000. Dec. 31 Received interest of $1,000 on the B and C securities. Additionally the following information was available:   Security 12/31/19 Fair Value B $42,000 C 53,000       Required: 1. Prepare journal entries to record the preceding information. 2. What is the balance in the Unrealized Holding Gain/Loss account on December 31, 2019? 3. Next Level What justification does the FASB give for its treatment of unrealized holding gains and losses…

Based on the information below, I have to prepare the adjusting entry at December 31, 2022 to report the securities at fair value. Thank you in advance!

At December 31, 2022, the trading debt securities for Sheridan, Inc. are as follows. Security A (a) B C Cost $17,800 12,000 Dec. 31 22,900 $52,700 Fair Value $16,300 13,600 19,400 $49,300 Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. (List all debit entries before credit er Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No- for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit

Requ a. Using the present value tables in Chapter 6, calculate the proceeds (issue price) of Learned, Inc.'s, bonds on January 1, 2013, assuming that the bonds were sold to provide a market rate of return to the investor. b. Assume instead that the proceeds were $93,000,000. Use the horizontal model (or write the journal entry) to record the payment of semiannual interest and the related premium amortization on June 30, 2013, assuming that the premium of $3,000,000 is amortized on a straight-line basis. o 0ompound interest method

EH.7 (LO 3), AP Writing At December 31, 2022, available-for-sale debt securities for Gwynn, Inc. are as follows. The securities are considered to be a long-term investment. Instructions Security A B C Total Cost $18,100 12,500 23,000 $53,600 Fair Value $16,000 14,800 18,000 $48,800 a. Prepare the adjusting entry at December 31, 2022, to report the securities at fair value. b. Show the statement presentation at December 31, 2022, after adjustment to fair value. c. Pam Jenks, a member of the board of directors, does not understand the reporting of the unrealized gains or losses on trading debt securities and available-for-sale debt securities. Write a letter to Ms. Jenks explaining the reporting and the purposes it serves.

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