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Provide the entry to record the year-end adjustment

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Reference no: EM132781203

SnowCap Corp. has the following portfolio of common shares (without significant influence) at December 31, 2020:

Investment               Fair Value              Cost

Skiis R Us.                 $360,000            $431,250

Outdoor Ltd.                67,500              465,000

Carlton Corp.               90,000                  165,000

Total                               $517,500                $1,061,250

Problem 1: Provide the entry to record the year-end adjustment for these investments, assuming SnowCap uses one control account and has adopted the FV-NI model.

Reference no: EM132781203

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