Last Unguaranteed Financial Inc. purchased the following trading securities during 2016, its first year of operations: Name _________________________ Number of Shares____________ Cost Arden Enterprises Inc. ………………………….5,000…………………$150,000 French Broad Industries Inc…………………….2,750…………………….66,000 Pisgah Construction Inc…………………………1,600…………………..104,000 Total………………………………………………………………………$320,000 The market price per share for the trading security portfolio on December 31, 2016, was as follows: Market Price per Share, Dec. 31, 2016 Arden Enterprises Inc…………………………$34 French Broad Industries Inc. …………………..26 Pisgah Construction Inc. ………………………60 a. Provide the journal entry to adjust the trading security portfolio to fair value on December 31, 2016. b. Assume the market prices of the portfolio were the same on December 31, 2017, as they were on December 31, 2016. What would be the journal entry to adjust the portfolio to fair value? View Solution: Last Unguaranteed Financial Inc purchased the following trading securities during

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.