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Prepare the adjusting entries to report each class of

Uttinger Company has the following data at December 31, 2015.

Securities Cost Fair Value

Trading $12,000 $126,000

Available-for-sale 100,000 96,000

The available-for-sale securities are held as a long-term investment.

Instructions

a) Prepare the adjusting entries to report each class of securities at fair value.

b) Indicate the statement presentation of each class of securities and the related unrealized gain (loss) accounts.

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Accounting Basics: Prepare the adjusting entries to report each class of

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