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...

50.1K

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 debt securities follows. The year-end adjusting entry to record the unrealized goindoss at December 31, 20X2 is: Available-for-Sale Securities Cost Fair value December 31, 2exi $255,000 $245,000 December 31, 20x2 $344,000 $355,500 Multiple Choice Debit Fair Value Adjustment - Available for Sale ALT) $21500 Credit Unrealized Gain - Equity $10,000 no Artigt Available for Sale $1.500 Credit Untealized Loss - Equity $11,500

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

Q

2. The company is considering a project involving the purchase of new equipment. Change the data...

Accounting
Q

Because of channel conflict problems, it is not good for brick-and-mortar companies to adopt the multi-channeling strategy. Is...

General Management
Q

Brown Company paid cash to purchase the assets of Coffee Company on January 1, 2019. Information...

Accounting
Q

The piece of equipment that allows us to quantify turbidity of a microbial culture is...

Biology
Q

liquid of density higher than water is filled in phase of water in a resonance...

Physics
Q

2 5 2 1 1 2 3 5 2 Identify the function whose graph appears...

Geometry
Q

Are you smarter than a second-grader? A random sample of 61 second-graders in a certain...

Basic Math
Q

Alicia has been working for JMM Corp. for 32 years. Alicia participates in JMM's defined...

Accounting
Q

?Samson, Inc. reported the following information for the? year: Service Revenue $45,000 Operating Expenses 20,000...

Accounting
Q

Please show all work used for this problem You have been asked to evaluate...

Accounting
Q

Perry's Pizza Palace orders their products, like cheese, meats, bread, vegetables and many others, from...

Accounting
Q

os Better Business incorporated plans to buy a machine to produce the art and approached...

Finance