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Provide the entries to record the year-end adjustments

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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.

Reference no: EM132961848

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