Business
Business, 20.10.2021 14:00, chandranewlon

At December 31, 2020, the available-for-sale debt portfolio for Windsor Corp. is as follows. Securities Cost Fair Value Unrealized Gain (Loss)
Good Co. Bonds $ 31,300 $ 29,100 $(2,200)
Home Co. Bonds 29,600 31,300 1,700
Grand Inc.
Debentures 38,000 39,100 1,100
98,900 99,500 600
Before an adjusting entry on December 31, 2020, the fair value adjustment account contained a credit balance of $ 430. Windsor Corp. reported net income of $ 86,300 for 2020.
(a) Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value.
(b) Show the balance sheet presentation of the investment-related accounts at December 31, 2017.

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At December 31, 2020, the available-for-sale debt portfolio for Windsor Corp. is as follows. Secur...

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