Acc557 Financial Accounting: E12-12 Uttinger Company has the following data



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Acc557 Financial Accounting

E12-12. 
Uttinger Company has the following data at December 31, 2015.
Securities  Cost   Fair Value
Trading  120,000   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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