Please help me figure out the adjusting journal entry to this. The instructions say Acuity Inc. is classified as an available for sale investment, and is adjusted to a fair value price of $33. use the valuation allowance for available for sale investment accounts in making the adjustment. Acuity Inc. was purchased for 12000 shares at $27/share. 1000 of those shares were sold at a price of $21 each, less a brokerage fee of $ 50. Now the adjustment needs to be made, and no one can help me.
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The Assessor’s Office reappraises the value of real property (land and buildings) every odd-numbered year. The value is stated as of the appraisal date, which is June 30 of the year prior to the reappraisal year. The value determined by the Assessor is generally used for the intervening year as well.
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