The following information is available for Cullumber Company at December 31, 2025, regarding its investments: Securities 500 shares of Oriole Corporation common stock 7,600 shares of Blue Spruce Corporation preferred stock The company did not have any investments prior to 2025. Your answer is partially correct. Account Titles and Explanation Fair Value Adjustment Prepare the adjusting entry (if any) for 2025, assuming neither investment results in significant influence over the companies whose equity is held. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Unrealized Holding Gain or Loss-Equity Cost eTextbook and Media $27,000 648,000 $675,000 Fair Value $41,000 621,000 $662,000 Debit 13000 Credit 13000

The following information is available for Cullumber Company at December 31, 2025, regarding its investments: Securities 500 shares of Oriole Corporation common stock 7,600 shares of Blue Spruce Corporation preferred stock The company did not have any investments prior to 2025. Your answer is partially correct. Account Titles and Explanation Fair Value Adjustment Prepare the adjusting entry (if any) for 2025, assuming neither investment results in significant influence over the companies whose equity is held. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Unrealized Holding Gain or Loss-Equity Cost eTextbook and Media $27,000 648,000 $675,000 Fair Value $41,000 621,000 $662,000 Debit 13000 Credit 13000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 4PB: Identify the financial statement on which each of the following account categories would appear: the...

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