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Journalize the entries to acquire the investment on march

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Reference no: EM131815023

Question - The investments of Giving Tree Inc. include a single investment: 9,000 shares of Cardio Solutions Inc. common stock purchased on March 3, 2012, for $22 per share including brokerage commission. These shares were classified as trading securities. As of the December 31, 2012, balance sheet date, the share price increased to $29 per share.

A) Journalize the entries to acquire the investment on March 3, and record the adjustment ti fair value on December 31, 2012.

B) How is the unrealized gain or loss for trading investments disclosed on the financial statements?

Reference no: EM131815023

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