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A) prepare the entry for the security sales on January 15, 2021.
Calculatuon of gain or loss on sale of investment:
B) prepare the journal entry to record the security purchase on April 17, 2021.
Calculation of total purchase price:
C) Compute the unrealized gains or losses and repair of the adjusting entry for Parnevik on
December 31, 2021.
D) how should the unrealized gains or losses be reported on Parnevik's income statement and
balance sheet?
Parnevik Company has the following securities in its investment portfolio on December 31, 2020
(all securities were purchased in 2020): Other information concerning the company's investments
follows. Fair Value Adjustment account balance at December 31,2020 (credit) $ 10 , 100 In
2021. Parnevik completed the following securities transactions. On December 31,2021, the
market prices per share of these securities were: In addition, the accounting supervisor of
Parnevik told you that, even though all these securities have readily determinable fair values,
Parnevik will not actively trade these securities because the top management intends to hold
them for more than one year.

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A) prepare the entry for the security sales on January 15- 2021- Calcu.pdf

  • 1. A) prepare the entry for the security sales on January 15, 2021. Calculatuon of gain or loss on sale of investment: B) prepare the journal entry to record the security purchase on April 17, 2021. Calculation of total purchase price: C) Compute the unrealized gains or losses and repair of the adjusting entry for Parnevik on December 31, 2021. D) how should the unrealized gains or losses be reported on Parnevik's income statement and balance sheet? Parnevik Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purchased in 2020): Other information concerning the company's investments follows. Fair Value Adjustment account balance at December 31,2020 (credit) $ 10 , 100 In 2021. Parnevik completed the following securities transactions. On December 31,2021, the market prices per share of these securities were: In addition, the accounting supervisor of Parnevik told you that, even though all these securities have readily determinable fair values, Parnevik will not actively trade these securities because the top management intends to hold them for more than one year.