申論題

一、You have been assigned to examine the financial statements of Zarle Company for the year ended December 31, 2019. You discover the following situations.

6. Zarle has a portfolio of investments that it manages to profit from short-term price changes. No entry has been made to adjust to fair value. Information on cost and fair value is as follows. Cost Fair Value December 31, 2018 $95,000 $95,000 December 31, 2019 $84,000 $82,000