In Its 2018 Annual Report to Shareholders, Kirby Inc

question 66

Essay

In its 2018 annual report to shareholders, Kirby Inc. included the following disclosure regarding its available for sale investments in securities:



-Required:
Prepare the journal entry (in thousands) that Kirby made at the end of 2018 to record unrealized holding gains arising during the year.

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or within the business's operating cycle, whichever is longer.

Liquidity

The ability to convert assets into cash.

Noncurrent Assets

Long-term assets not expected to be converted into cash within a year, such as property, plant, and equipment.