Reference no: EM132961848
Falcons Corp. has the following portfolio of common shares without significant influence at December 31, 2020:
Investment Cost Fair value
Albania Inc. $ 480,000 $ 570,000
Bulgaria Ltd. 90,000 620,000
Slovakia Ltd. 75,000 75,000
Czech Corp. 220,000 120,000
Total $ 865,000 $ 1,385,000
Instructions
Problem 1: Provide the entries to record the year-end adjustments for these FV-NI investments, assuming Falcons uses separate accounts for each investment holding.
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How provide the entries to record the year-end adjustments
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