King George Company Has These Data at December 31, 2014

question 92

Essay

King George Company has these data at December 31, 2014: $\begin{array}{lrr}\text { Securities } & \text { Cost } & \text { Fair Value } \\\text { Trading } & \$ 110,000 & \$ 119,000 \\\text { Available-for-sale } & 100,000 & 95,000\end{array}$
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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Definitions:

Organizing Results

refers to the process of systematically arranging data or findings in a study or experiment for analysis and presentation.

Independent Variable

In an experiment, the variable that is manipulated or changed by the researcher to observe its effect on the dependent variable.

Dependent Variable

The variable being tested and measured in an experiment, which is influenced by the independent variable.

Experimental Results

The data and observations collected during an experiment, which are analyzed to draw conclusions about the hypothesis tested.