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On December 31, the Cost and Market Price of Equity

question 90

Essay

On December 31, the cost and market price of equity securities purchased as a long-term passive investment are $5,000 and $8,000, respectively. Give the appropriate adjusting entry on December 31.


Definitions:

Parasympathetic Nervous System

A branch of the autonomic nervous system that conserves energy by slowing the heart rate, increasing intestinal and gland activity, and relaxing sphincter muscles in the gastrointestinal tract.

Somatic Nervous System

The part of the peripheral nervous system associated with voluntary control of body movements through the action of skeletal muscles.

Sympathetic Nervous System

A branch of the autonomic nervous system that activates what is often termed the fight or flight response.

Cerebellum

A region of the brain that plays a vital role in motor control, and it may also be involved in some cognitive functions.

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