question uttinger company has the following data at december 31 2017 securities cost 4282226
Uttinger Company has the following data at December 31,2017.
Securities/ Cost/ Fair Value
Trading/ $120,300 /$125,000
Available-for-sale/ $100,100/ $92,700
The available-for-sale securities are held as a long-terminvestment.
A) Prepare the adjusting entries to report: (1) Tradingsecurities at fair value and (2) Available-for-sale securities atfair value.
B) Indicate the statement presentation of each class ofsecurities.
C) Indicate the related unrealized gain (loss) accounts.