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What are the appropriate adjusting entrys at december 31

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Reference no: EM132315520

Question

The accounting records of Importers, Inc., at January 1, 2018, included the following:

Assets:

Investment in IBM common shares $1,895,000

Less: Fair value adjustment (200,000)

=$1,695,000

No changes occurred during 2018 in the investment portfolio.

Required:

What are the appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the IBM common shares was:

Reference no: EM132315520

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