Available for sale Securities:
Company Cost Value, 12/31/14 Value, 12/31/15
A Company $25,000 $13,000 $20,000
B Company 13,000 20,000 20,000
C Company 35,000 30,000 25,000
Required:
(1.) Prepare the necessary journal entries for FKG on December 31, 2014, and December 31, 2015.
(2.) Describe how, and what amount, will show up on the 2014 and 2015 Income Statements. (3.) Describe how and what amount will show up on the 2014 15 Equity sections of the Balance Sheet.