For several years Fister Links Products has held Microsoft bonds, considered by the company to be securities available-for-sale. The bonds were acquired at a cost of $500,000. At the end of 2018, their fair value was $610,000 and their amortized cost was $510,000. At the end of 2019, their fair value was $600,000 and their amortized cost was $520,000.

At what amount will the investment be reported in the December 31, 2019, balance sheet? What adjusting entry is required to accomplish this objective (ignore interest)?

(please explain how did you get the adjusting entry/ steps)

adjusitng entry:

OCI (other comprehensive income) 10,000 debit

          Microsoft debt securities           10,000 credit

At balance sheet it will be listed for 600,000

Explanation:

As the company considers the shares as avaialble-for-sale their valuation will be at fair value with the changes beign made into other comprehensive income until the gain or loss is realized

at December 31, 2019 it will be adjusted from 2018 year-end fair value to 2019 year-end fair value:

600,000 - 610,000 = -10,000

we decrease to 600,000 from 610,000

and we disclosure the investment for 2019 fair value

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